In a statement, cryptocurrency trading platform Gemini announced that they have reached a preliminary settlement with Genesis and other creditors in the Genesis bankruptcy case. Gemini Earn users will receive a physical return of cryptocurrencies worth $2.18 billion, meaning that customers who borrowed one Bitcoin will receive one Bitcoin. Gemini stated that the value of the funds distributed this time has increased by 232% since the withdrawal was halted in November 2022. The company also mentioned that Gemini Earn customers are expected to receive the remaining “asset balance” within the next year.
