Gemini earn8/2/2023 ![]() ![]() Genesis had exposure to FTX of at least $175 million, coming via its derivatives trading business. Genesis is now reportedly working with investment bank Moelis & Co about potential financing options according to the newspaper, and it was reported earlier this month that the lender attempted to raise $1 billion as part of attempts to avoid the “liquidity crunch” which forced it to stop withdrawals. An important message regarding Gemini Earn On November 16, 2022, Genesis Global Capital, LLC (Genesis) the lending partner of the Earn program paused withdrawals and messaged that they will not be able to meet customer redemptions within the service-level agreement (SLA) of 5 business days. The move came directly after Genesis suspended redemptions for customers and new loans due to "abnormal withdrawal requests" following the FTX collapse on the same day. ![]() However, Gemini Earn has been terminated after its. The current market value of the digital assets owed to you will no longer be reflected in your total. The Gemini Earn program was a way for investors to earn interest on their assets, with the highest annual percentage yield (APY) at 8.05. The new product allows investors to take a 7.4 annual. The exchange attributed the move to “unprecedented market turmoil”. Upon filing the Master Claim with the Bankruptcy Court, Gemini will update your pending balances to display the Earn-related digital assets included in the Master Claim on your behalf, denominated in the digital asset (s) you are owed. On Tuesday, February 2, cryptocurrency exchange Gemini announced its new interest-earning product Gemini Earn on cryptocurrency deposits. ![]() Gemini, which Cameron and Tyler Winklevoss founded in 2015, told users it would be pausing withdrawals from Gemini Earn on November 16, and has yet to provide any clarity as to when they are expected to be reopened. The Gemini Earn service has experienced severe disruption since the FTX contagion began at the start of last month. Gemini partnered with crypto lender Genesis, a subsidiary of the Digital Currency Group (DCG), to offer. $0.0472027 -0.13% Terra Classic (Wormhole)Īccording to the FT, Gemini is working as part of a creditors’ committee to regain the funds from Genesis and DCG. Users were able to earn as much as 8 on their crypto. ![]()
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |