Gemini to Return $2.18B in Frozen Crypto Assets Back to Gemini Earn Users, $1 Billion More Than Expected

IconCryptoNewsTerminal Staff29 May, 2024

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Gemini to Return $2.18B in Frozen Crypto Assets Back to Gemini Earn Users, $1 Billion More Than Expected

Gemini, the American cryptocurrency exchange, has announced that they will be returning 100% of the crypto assets that were frozen on Gemini Earn back to its users. This is a significant increase from the 97% that Gemini initially planned to return by the end of this month. The crypto will be returned in the form of in-kind assets, which have appreciated by approximately 232% in value since the assets were frozen in November 2022. This means that Gemini Earn users will receive back more crypto than they initially deposited. The return of the frozen crypto assets is a positive development for Gemini Earn users, who have been waiting for access to their funds since the program was paused in November 2022. The increase in the amount of crypto being returned is also a welcome surprise, and it will likely be well-received by Gemini Earn users.

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