{"id":15227,"date":"2022-12-07T10:02:19","date_gmt":"2022-12-07T10:02:19","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/gemini-launches-page-to-help-gemini-earn-users-affected-by-genesis-crisis\/"},"modified":"2022-12-07T10:02:19","modified_gmt":"2022-12-07T10:02:19","slug":"gemini-launches-page-to-help-gemini-earn-users-affected-by-genesis-crisis","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/gemini-launches-page-to-help-gemini-earn-users-affected-by-genesis-crisis\/","title":{"rendered":"Gemini launches page to help Gemini Earn users affected by Genesis crisis"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1670403424240-5ebc768d-a596-4370-9e4f-74b90e0112ad-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1670403424240-5ebc768d-a596-4370-9e4f-74b90e0112ad-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1670403424240-5ebc768d-a596-4370-9e4f-74b90e0112ad-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1670403424240-5ebc768d-a596-4370-9e4f-74b90e0112ad-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<p>The co-founder of Gemini, Cameron Winklevoss, on Wednesday announced via a <a href=\"https:\/\/twitter.com\/cameron\/status\/1600210788219637760\">series of tweets<\/a> that the crypto exchange has launched a page to help Gemini Earn users.<\/p>\n<p><strong>KEY TAKEAWAYS<\/strong><\/p>\n<ul>\n<li>Gemini Earn was impacted after crypto lender Genesis paused withdrawals and Earn redemptions.<\/li>\n<li>Genesis is Gemini\u2019s lending partner and it is facing liquidity issues amid the FTX crisis.<\/li>\n<li>Gemini has also formed a creditors\u2019 committee and hired the law firm, Kirkland &amp; Ellis.<\/li>\n<\/ul>\n<p>The newly launched page will help bring transparency process regarding finding a resolution for all Earn users to redeem their funds.<\/p>\n<p>In addition, the exchange has also formed a creditor\u2019s committee which will be tasked with trying to recover lost money. They have also hired the law firm, Kirkland &amp;Ellis, to help resolve the issues around the Earn product the earliest possible.<\/p>\n<h2>Genesis\u2019 impact on Gemini Earn<\/h2>\n<p>Genesis and its parent company DCG are currently trying to raise about half a billion in emergency funding due to its exposure to the <a href=\"https:\/\/coinjournal.net\/news\/expect-crypto-contagion-as-ftx-crisis-is-far-from-over\/\">collapse FTX<\/a> crypto exchange. DCG also owes Genesis about $1.7 billion. As a result, <a href=\"https:\/\/coinjournal.net\/news\/genesis-2-8b-crypto-lending-unit-halts-withdrawals\/\">Genesis halted withdrawals<\/a> and Gemini Earn redemptions and has not given any updates on when the services will resume.<\/p>\n<p>\u00a0As a result of halting the Gemini Earn redemptions, Genesis owes Gemini Earn users $900 million and Gemini is currently trying to recover those funds to help gain their customers\u2019 trust which has been greatly impacted by the developments.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/gemini-launches-page-to-help-gemini-earn-users-affected-by-genesis-crisis\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) The co-founder of Gemini, Cameron Winklevoss, on Wednesday announced via a series of tweets that the crypto exchange has launched a page to help Gemini Earn users. KEY TAKEAWAYS Gemini Earn was impacted after crypto lender Genesis paused withdrawals and Earn redemptions. Genesis [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":15228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/15227"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=15227"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/15227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/15228"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=15227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=15227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=15227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}