New York-based cryptocurrency exchange Gemini announced late Wednesday that the parties involved in the bankruptcy case of crypto lending company Genesis have agreed to return $1.1 billion in digital assets to users of the platform’s Earn program.

“We have finally reached a settlement in principle with Genesis and other creditors in the Genesis Bankruptcy that will, if approved by the Bankruptcy Court, result in all Earn users receiving 100% of their digital assets back in kind,” the company wrote.

Founded in 2014 by Cameron and Tyler Winklevoss, Gemini—also known as the Gemini Trust Company—offers not only a cryptocurrency exchange but also broader financial services, including cryptocurrency staking, crypto wallets, cold storage, credit card services, and the Nifty Gateway NFT marketplace.

In October, the office of the New York Attorney General (NYAG) filed a
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Author: Jason Nelson

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