Quote from: bmwister on January 13, 2023, 06:22:21 AM

Gemini officially closes Earn programme

Gemini clients have received a letter informing them that the stock exchange is terminating its loan agreement with Genesis Global Capital and halting the Earn yield program. The company stresses that the termination of the loan agreement does not affect Gemini's plans - they will continue to seek a way out of this situation.

Amid the cryptocrisis, credit broker Genesis has frozen withdrawals. And because they were Gemini's partner, the cryptocurrency exchange had to block deposits in its Earn programme.

Last week, Gemini co-founder Cameron Winklevoss posted an open letter on social media in which he accused DCG and Genesis founder Barry Silbert of shutting down Gemini's Earn programme.

In another open letter, Winklevoss addresses the DCG board. He is asking the board to fire Silbert because he has driven the company into crisis.

So far, the parties have not given concrete answers as to when Earn investors will get their deposits back.

Genesis was disappointed that Gemini is waging a public media campaign despite ongoing productive private dialogue between the parties. This is a very comples process that will take some aditional time.