The $100 million determine stands out partly as a result of that equals the quantity Gemini agreed to offer a few of its prospects as a part of the Genesis chapter case. Genesis, which, like CoinDesk, is owned by Digital Foreign money Group (DCG), froze withdrawals within the aftermath of FTX’s collapse final yr, a choice that locked up cash for patrons of Gemini’s Earn yield product. As a part of a February settlement DCG reached with collectors, Gemini mentioned it could contribute as much as $100 million to Earn customers.
