Bitcoin

Genesis Vision

Gemini

Gemini settled with Genesis and other creditors in the bankruptcy case. They pledged to return all digital assets to Earn program users. Pending court approval, users will receive over $1.8 billion in assets, marking a significant victory for them.<h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" />The settlement means Earn users will get their digital assets back at the same amount they originally lent, even if the assets have gone up in value since then. This not only restores the assets’ original value but also adds $700 million more compared to when <a href="https://cryptosheadlines.com/hotbit-exchange-stops-operations-advises-users-to-withdraw-funds/" rel="noopener noreferrer nofollow">withdrawals stopped</a> in November 2022.<h3 id="gemini-s-resolution-for-earn-program-users">Gemini’s Resolution for Earn Program Users</h3><a href="https://www.gemini.com/earn" rel="noopener noreferrer nofollow">Gemini</a>‘s agreement promises Earn users a 97% return of assets within about two months after court approval, with the remaining balance settled within a year. The company has been actively negotiating for the past 15 months and contributed $40 million towards asset recovery efforts.<blockquote>Facilitated by the New York Department of Financial Services (NYDFS), the settlement <a href="https://cryptosheadlines.com/singapore-temasek-adopts-cautious-approach-in-crypto-space-following-ftx-incident/" rel="noopener noreferrer nofollow">adopts a coin-for-coin recovery approach</a>, hailed by Bloomberg ETF analyst James Seyffart as a significant win for users. Seyffart highlighted the potential for users to receive their digital assets back in full, even if the assets have appreciated since the time they were lent.</blockquote><a href="https://cryptosheadlines.com/gemini-founders-consider-uk-for-potential-global-headquarters/" rel="noopener noreferrer nofollow">Gemini’s legal journey with Genesis Global</a> Capital (GGC) sheds light on the challenges faced by the Earn program. Following <a href="https://cryptosheadlines.com/parties-involved-in-genesis-bankruptcy-agree-to-30-day-mediation-period/" rel="noopener noreferrer nofollow">Genesis’s bankruptcy</a> in January 2023, which served as the program’s backend service provider, Gemini navigated regulatory and financial obstacles to ensure asset recovery for Earn customers. This effort culminated in the proposed settlement, marking a crucial step towards resolving the program’s complexities.Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" />Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

Gemini: Full Crypto Asset Recovery for Earn Users Post Genesis Settlement

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