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Winklevoss's Gemini Earn Halts Withdrawals Following Genesis

Wed, 11/16/2022 - 14:31
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Yuri Molchan
Earn program of Gemini exchange says it will not be able to deliver on its SLA redemptions for customers
Winklevoss's Gemini Earn Halts Withdrawals Following Genesis
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In a recent blog post published by Gemini Earn program based on Gemini exchange, owned by the Winklevoss twins, they spread the word that they are having difficulties and will not be able to meet customer redemptions according to the SLA — service-level agreement.

The cause of the problem with withdrawals on Gemini Earn is the fact that its lending partner Genesis Global Capital has already stopped withdrawals for its customers.

Bitcoin Extends Losses as Genesis's Lending Arm Halts Withdrawals

The Earn team is now engaged with the Genesis team to help Earn clients to withdraw funds from the Earn program.

The former stated that they hope that Genesis and its parent company Digital Currency Group, owned by Barry Silbert, will do "everything in their power to fulfill their obligations to customers under the Earn program." DCG owns Genesis too, as well as Grayscale.

Genesis held up client withdrawals after the FTX scandal.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at