Gemini

Wednesday

Reported Coindesk, Genesis and its parent company <a target="_blank" href="https://tokeninsight.com/en/news/?title=dcg" rel="noopener noreferrer nofollow">Digital Currency Group</a> (DCG) say that over 230,000 retail creditors who used Gemini’s Earn program stand to be made “nearly whole” under a proposed remuneration deal to be voted on later this year. 
Earn was offered to customers of the Gemini crypto exchange, but Genesis supplied the financial infrastructure that ran the program. 
A filing on Wednesday states that if assorted Genesis creditor groups vote to approve a proposed deal, then “Gemini Earn users are estimated to recover approximately 95-110% of their claims.” Attorneys for Genesis and DCG had previously said unsecured creditors could receive up to 90% of the U.S. dollar equivalent of their holdings through the company’s reorganization. 
<a target="_blank" href="https://tokeninsight.com/en/news/dcg-reaches-in-principal-deal-with-genesis-creditors-could-recover-up-to-90" rel="noopener noreferrer nofollow">DCG Reaches In-Principal Deal with Genesis Creditors, Could Recover Up to 90%</a> 
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Gemini’s Earn Customers Could Recover over 95% of Funds, Said Genesis and DCG

TokenInsight

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