As part of the settlement, Gemini will give Genesis – which provided services that helped Earn function – $40 million for its bankruptcy proceedings, which are ongoing, and pay $37 million to NYDFS. And, according to a press release, Gemini “has committed” to having $1.1 billion for its Earn customers by the time Genesis wraps up its bankruptcy proceedings. In a tweet, Gemini said this would amount to 100% of customers’ assets, received in-kind, assuming a bankruptcy court signs off on the agreement.
>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CoinDesk – https://www.coindesk.com/policy/2024/02/28/winklevoss-twins-gemini-promises-to-return-11b-to-earn-customers/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
