Public announcements from Gemini or verified financial reports

Gemini Earn Users to Receive $2.18 Billion in Digital Assets, 232% Recovery

May 29, 2024, 02:28 PM

Gemini Earn users are set to receive $2.18 billion of their digital assets, representing 97% of the digital assets owed to them. This distribution marks a 232% recovery from the value when Genesis halted withdrawals and is $1 billion more than when Genesis halted withdrawals. The assets will be distributed in kind, with significant portions in Bitcoin ($960 million) and Ethereum ($600 million). This outcome is considered a significant achievement in the context of U.S. bankruptcies, following the debacles with FTX and Genesis.