Gemini: Earn users have received digital assets worth $2.18 billion

ChainCatcher news, Gemini stated on social media that Earn users have received digital assets worth $2.18 billion, representing: 97% of the digital assets owed to Earn users; $1 billion more than when Genesis paused withdrawals; and a 232% recovery compared to when Genesis paused withdrawals.

"This represents an unprecedented recovery in cryptocurrency bankruptcy cases, and it aligns with our previous announcement of reaching a principled settlement with Genesis and other creditors in the Genesis bankruptcy cases, which will allow all Earn users to recover 100% of their digital assets in kind."

This means that, for example, if a user lent one Bitcoin in the Earn program, you will recover one Bitcoin. It also means you will receive all asset appreciation since you lent the assets into the Earn program. To ensure this successful resolution, Gemini has also contributed $50 million to the recovery plan for Earn users.