% 4.07
BTC Dominance:
% 0.35
Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
$ 62.459
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

Gemini Accepted to Refund!


The New York Department of Financial Services (DFS) announced today that a settlement has been reached with cryptocurrency exchange Gemini. Gemini users will get refund.

Refund to Gemini Users

The New York Department of Financial Services (DFS) announced that a settlement was reached in the bankruptcy case with Gemini.

Cryptocurrency exchange Gemini agreed to refund $1.1 billion owed to users of the Gemini Earn investment program and pay a penalty of $37 million.

DFS shared that Gemini failed to supervise and examine its partner in the Earn investment tool and prevented the now-bankrupt crypto lending platform Genesis Global Capital from accessing the assets of over 200,000 Earn users, estimated to be worth about $1.8 billion.

DFS added that there were other deficiencies in Gemini’s management oversight such as customer case determination and an internal audit plan, compliance programs.

In a statement from Gemini, it was announced that the agreement is subject to definitive documentation and the necessary bankruptcy court process, which could take about two months.


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