Crypto: Users of Gemini's Earn product will soon be able to redeem their funds

Gemini is an exchange launched in 2014 by Cameron and Tyler Winklevoss. The platform offered a program called Earn, in conjunction with Genesis Global Capital, LLC. But lately, Genesis, which is the lending partner of the Earn product, has suspended withdrawals. In this context, on November 16, Gemini announced: We are working with the Genesis team to help customers withdraw their funds from the Earn program as quickly as possible. We will give more information in the next few days“. It seems that the exchange is on the verge of finding a solution to the problem.

Satisfying Earn users: the“highest priority”!

According to a publication from Gemini on Twitter on November 22, the exchange could soon to offer a solution to users of the Earn program. The platform said: “We continue to work with Genesis Global Capital, LLC (Genesis), Earn’s lending partner and parent company, Digital Currency Group, Inc. (DCG), to find a solution for Earn users to redeem their funds“.

Gemini added:This remains our highest priority“. As well as suggesting that all options will be considered by Genesis and DCG in order to fulfill “the obligations towards the users of Earn“. The crypto firm has shown its appreciation to Earn users who have remained patient so far. He clarified that the entire crypto exchange team is working hard “to provide informative material update soon“.

Gemini is working on the solution

Gemini reassures users of its program

In his series of tweets, Gemini reaffirmed its compliance. Indeed, he said:All client funds held on the Gemini Exchange and Gemini Custody are held 1:1 and can be withdrawn at any time“. He also explained that the problem with the Earn program does not affect its other products and services in any way.

Gemini is a full-reserve exchange and depository“, he underlined.

It will not affect other products

It is true that the company had stated in a blog post published on November 11: “Gemini has built its foundation on trust, security and compliance“. The exchange had explained that it holds its customers’ crypto holdings and its own assets in separate accounts.

Gemini is actively working with Genesis and DCG to allow users to redeem their Earn program funds. The company wanted to inform its customers and reassure them about its integrity and the reliability of its services. She also thanked customers for their patience so far.

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