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Market
Market reaction to Gemini's return of assets by the end of 2024
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Resolution / Starting Odds
Positive reaction • 33%
Negative reaction • 33%
No significant change • 34%
Market performance indices and investor sentiment analysis
Story
Gemini Returns $2.18 Billion in Crypto to Earn Users at 232%
May 29, 2024, 02:17 PM
Gemini, the cryptocurrency exchange owned by the Winklevoss twins, announced that it has returned $2.18 billion in digital assets to users of its Earn program in-kind. This represents approximately 97% of the digital assets owed to Earn users as of the suspension date, November 16, 2022. The recovery rate is 232% of the original value of the crypto assets when withdrawals were halted. The return follows a settlement in principle with Genesis and other creditors in the Genesis bankruptcy. Users are expected to receive the remaining asset balances within the next year.
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