Gemini has announced a $2.18-billion distribution to its Earn program users 18 months after it suspended withdrawals.
Crypto exchange Gemini has kicked off the process of reimbursing users of its now-defunct lending program, Earn.
According to an announcement, Gemini’s Earn users were paid $2.18 billion in digital assets on May 29, representing 97% of the assets owed to users and a 232% recovery following an interruption of withdrawals by Genesis, a former Gemini Earn partner.
“This means, for example, if you had lent one Bitcoin in the Earn program, you will receive one Bitcoin back. And it means that you will receive any and all appreciation of your assets since you lent them into the Earn program,” reads the statement on X.
