Gemini to Return 97% of Frozen Crypto to Users by Month's End
CryptoNewsTerminal Staff20 May, 2024
Gemini to Return 97% of Frozen Crypto to Users by Month's End
Gemini, a cryptocurrency exchange, has announced its intention to return 97% of user crypto assets that were frozen on its lending product Gemini Earn by the end of the month, according to CryptoSlate. Gemini Earn users have had their assets frozen since Nov. 16, 2022, and Gemini will return roughly 97% of the crypto it owes customers as of the cutoff date in the form of cash. This move follows the bankruptcy court's approval of Genesis' revised restructuring plan and does not affect the global settlement between Gemini, Genesis, and other creditors involved in Genesis' bankruptcy filing.
