Posted 2/29/2024, 12:20:00 AM
Gemini to Fully Reimburse $1.1B to Customers After Failed Partnership with Bankrupt Genesis
- Gemini, crypto company of Winklevoss twins, to return $1.1B to Earn customers who lost money due to Genesis bankruptcy
- Gemini failed to properly vet and monitor Genesis, according to NY Dept of Financial Services
- Settlement reached is a win for Earn customers to regain 100% of digital assets
- Gemini to pay $40M to Genesis bankruptcy for benefit of Earn customers
- Gemini fined $37M for failures that threatened safety and soundness of company