Gemini Discontinues Earn Program, Seeks Resolution for Assets Recovery

• Gemini officially discontinued its interest-bearing product, Earn
• The exchange has terminated its loan agreement with Genesis Global Capital
• Gemini is seeking a resolution for customers wanting to recover their assets

Gemini, one of the world’s leading digital asset exchanges, has officially discontinued its Earn product, which allowed users to earn interest on their crypto assets.

The exchange has terminated its loan agreement with Genesis Global Capital, the provider of the Earn program, on behalf of its customers. This officially ends the Earn Program, and Gemini has assured users that existing redemptions are not impacted.

Gemini is now seeking a resolution for customers wanting to recover their assets, which have been inaccessible for nearly two months due to market conditions resulting from the collapse of FTX. Gemini has formed a committee to resolve the situation and is acting with utmost urgency to provide updates twice a week on Tuesdays and Fridays.

The company is doing its best to arrange the return of user assets, and it has stated that this is its highest priority. Gemini has not publicly announced the end of Earn, but the letter has been circulated on social media.

Though the situation is unfortunate, it serves as a reminder of the importance of being aware of the risks associated with investing in digital assets. Gemini’s decision to discontinue its Earn product demonstrates its commitment to providing a safe and secure platform for its customers.

Posted in Blog