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Gemini to pay back more than $1.8 billion to win customers in regulatory settlement
Cryptocurrency exchange Gemini announces it will return more than $1 billion to Earn program customers under a regulatory settlement with the New York State Department of Financial Services (NYDFS)
Repay all clients' assets at the current day's price
On February 28, Gemini Trust Company, founded by the Winklevoss brothers in 2014, announced that it had reached an in-principle settlement with Genesis and other creditors in the company’s bankruptcy proceedings.
The settlement will allow Earn Project clients to “recover 100% of their digital assets in physical form.”
The announcement further explains that if approved by the bankruptcy court, users can expect to recover their assets on a 1:1 basis:
Repay all clients' assets at the current day's price
On February 28, Gemini Trust Company, founded by the Winklevoss brothers in 2014, announced that it had reached an in-principle settlement with Genesis and other creditors in the company’s bankruptcy proceedings.
The settlement will allow Earn Project clients to “recover 100% of their digital assets in physical form.”
The announcement further explains that if approved by the bankruptcy court, users can expect to recover their assets on a 1:1 basis:
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