The issue related to the failure of Genesis and the closure of the Earn program on the Gemini crypto exchange is coming to an end.
Indeed, Judge Lane approved the bankruptcy plan, thus giving the green light for the repayment of credits.
Genesis and Gemini’s Earn service on the crypto exchange
Genesis Global Capital went bankrupt in 2022, following the bankruptcy of FTX, and among its creditors was also the crypto exchange Gemini.
As a consequence of Genesis’ failure, Gemini had to shut down its Earn program, leaving its clients without access to their funds anymore.
Yesterday’s ruling finally paves the way for solving the problem, especially regarding Gemini’s creditors.
Following the publication of the judgment, Gemini released a statement in which they effectively thank the judge and highlight how this judgment has no impact on the overall agreement between Gemini, Genesis, and other creditors.
The return of credits
Judge Sean Lane ignored both the objection
We współpracy z: https://en.cryptonomist.ch/2024/05/20/genesis-gemini-exchange-will-start-returning-crypto-to-customers/
