Crypto:
30604
Bitcoin:
$62.459
% 4.07
BTC Dominance:
%53.6
% 0.35
Market Cap:
$2.21 T
% 1.97
Fear & Greed:
33 / 100
Bitcoin:
$ 62.459
BTC Dominance:
% 53.6
Market Cap:
$2.21 T

Gemini Accepted to Refund!

Tempory

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.

 


One of the world’s largest crypto events, TOKEN2049 is coming! You can click here for detailed information about the event.

You can access discounted tickets by clicking here and using the code “COINENGINEER“.

Rate this post
READ:  New York Attorney Expands Case Against DCG and Gemini

Leave a Reply

Your email address will not be published. Required fields are marked *