Crypto exchange Gemini revealed working closely with Genesis Trading and its parent company Digital Currency Group, Inc, to find a solution for Earn users to redeem their funds.
In a series of tweets, the Winklevoss-led platform noted that it is working to provide a material informational update soon.
“This remains our highest priority and we understand Genesis and DCG remain committed to exploring every possible option to fulfill their obligations to Earn users.”
Gemini assured that the turmoil had not impacted any other products and services on its platform and that rest of its operations are working normally.
The Unraveling
The on-chain activity revealed that Genesis had significant interactions with Alameda, Gemini, and BlockFi via their OTC trading desk. FTT was also a top token received and sent in those transactions. However, Genesis is yet to share more information to bring clarity on the extent of the exposure and capital required to make customers whole.
Due to the exposu
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