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<ul><li>Digital Currency Group has announced a proposed compensation plan that could potentially pay back over 230,000 retail creditors who participated in Gemini&#39;s Earn program.</li><li>Depending on how the bankruptcy claim is calculated, the Earn customers are estimated to get between $440 million and $765 million of a claim.</li><li>DCG contends that Gemini is failing to &#34;put its money where its mouth is&#34;, implying Gemini isn’t contributing any money to support the recovery of its Earn Users.</li></ul>Genesis, a cryptocurrency lending operation, along with its parent company Digital Currency Group (DCG), has <a href="https://www.bloomberg.com/news/articles/2023-09-13/dcg-pushes-genesis-plan-says-gemini-users-could-be-made-whole#xj4y7vzkg" rel="noopener noreferrer nofollow">announced</a> a proposed compensation plan that could potentially pay back over 230,000 retail creditors who participated in Gemini&#39;s Earn program. This plan aims to provide these creditors with a significant portion of their lost funds, and the final decision on this proposal would be put to a vote later this year.Earn was made available to Gemini cryptocurrency exchange users, with Genesis providing the financial infrastructure that powered the program. When Genesis was obliged to suspend withdrawals and eventually file for bankruptcy, this created an issue for Gemini customers.DCG has proposed the creditor agreement for Genesis&#39;s bankruptcy that could allow Gemini Earn users to recover all of their cryptos. The filing cited, “Gemini Earn users are estimated to recover approximately 95-110% of their claims.”Read full article a<a href="https://cryptotale.org/new-creditor-agreement-gemini-proposes-compensation-plan-for-230000-creditors/" rel="noopener noreferrer nofollow">t CryptoTale .</a>

New Creditor Agreement: Gemini Proposes Compensation Plan for 230,000 Creditors

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