The US-based crypto exchange Gemini announced that it has stopped the withdrawals of its “Earn” program after the announcement of the crypto investment company Genesis.
Gemini, Genesis $2.8 billion crypto loan platform In a statement he made just after suspending withdrawals, the “Earn” program stop withdrawals announced.
Gemini made the following statements in his statement:
We are aware that we cannot meet customer refunds due to Genesis Global Capital, LLC (Genesis) stopping withdrawals. We are working with the Genesis team to help our clients withdraw funds from the Earn program.
The past week has been incredibly challenging and stressful for the cryptocurrency market. We are disappointed that we cannot afford the Earn program funds. However, Genesis’ parent company, Digital Currency Group, has pledged to honor its obligations to customers under the Earn program. Thank you very much for your patience.
In a statement released by Gemini, this situation will not affect other products and services. told.