As part of the settlement, Gemini will give Genesis – which provided services that helped Earn function – $40 million for its bankruptcy proceedings, which are ongoing, and pay $37 million to NYDFS. And, according to a press release, Gemini “has committed” to having $1.1 billion for its Earn customers by the time Genesis wraps up its bankruptcy proceedings. In a tweet, Gemini said this would amount to 100% of customers’ assets, received in-kind, assuming a bankruptcy court signs off on the agreement.
Bitcoin (BTC) Holds Near $63K, Consolidating Week’s Recovery
Bitcoin traded either side of $63,000 during the European morning on Friday having retreated from its rebound to $64,400 late...