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Gemini To Pump $100 Million Into Genesis for Its Bankruptcy Recovery

Earn users have seen a fall that no one expected. Their holdings are stuck with withdrawals halted by – now a bankrupt venture – Genesis. Gemini appears to be coming to the rescue of the Earn users by announcing its plan to pump $100 million into Genesis for bankruptcy recovery. The move was announced during a status conference for Genesis, a venture that owes its creditors billions of dollars.

FTX reported a liquidity crunch, and the effect quickly cascaded to Genesis, majorly affecting the Earn program, where users were promised interest of up to 8%.

(By Trevor Holman)

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