Gemini дагы эле Genesis, Digital Currency Group менен иштөөдө, колдонуучулардын акчасын алуу үчүн

There is still no word on when users of Gemini’s Earn service will be able to withdraw their funds, but this morning the exchange шопурлуктан it’s continuing “to work with [lending partner] Genesis and its parent company Digital Currency Group (DCG) to find a solution.”

Last week, Gemini эскертүү of major delays for Earn users looking to withdraw their cash. 

Earn lets users earn passive income for locking up crypto, with interest rates ranging from as little as 0.45% right up to 8%.

Gemini’s Earn is tied to the fate of its lending partner, crypto prime broker Genesis, which, on the same day of Gemini’s announcement last week, said it was бардык алууларды токтотуу due to the sudden, catastrophic collapse of the FTX exchange, which Genesis’s derivatives business had $ 175 миллион exposure to.  

Gemini’s announcement today was thin on details and thick with assurances, telling Earn customers that redemptions remain Gemini’s “highest priority,” that Genesis and DCG “remain committed to exploring every possible option,” and that all funds held on Gemini’s Exchange and Custody services are backed 1:1. 

All eyes on Genesis

The FTX disaster wasn’t the only hit Genesis took this crypto winter.

The company is still reeling from the implosion of Three Arrows Capital (3AC) earlier this year, saying the 2.3 миллиард доллар карыз мурдагы крипто хедж-фонд тарабынан «терс таасирин тийгизген« the liquidity of its lending business.

Last week, Genesis unsuccessfully angled for a $1 billion bailout after the FTX crisis prompted a bank run on its lending arm. 

A Genesis document seen by the Wall Street Journal said: “There is an ongoing run on deposits driven mainly by retail programs and partners of Genesis (i.e., Gemini Earn) and institutional clients testing liquidity.” 

Yesterday, reports emerged that Genesis may be facing bankruptcy.

Бул тууралуу компаниянын өкүлү билдирди чечмелөө at the time: “We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the need for any bankruptcy filing. Genesis continues to have constructive conversations with creditors.”