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.