A statement came from the US-based crypto exchange Gemini, after the crypto investment company Genesis reported that it continues to seek recovery funds to avoid bankruptcy. In the statement, it was stated that the work with the parties continues.
Digital Currency Groupconnected to Genesisin yesterday evening on the verge of bankruptcy and search for recovery fund after giving signals that he is in from Gemini The explanation has come. The Gemini team said they were following the process and that withdrawals were suspended last week.Earn” to reactivate the program Genesis and Digital Currency Group He said they were working with him.
by Gemini on Twitter The following statements were included in the shared post:
This remains our highest priority. We understand that Genesis and DCG are committed to exploring every possible option to meet their obligations to Earn users and are working with them.
Expressing that users should be patient, the company also underlined that this situation does not affect other Gemini products. User funds held in Gemini and Gemini Custody held in reserves at a ratio of 1:1 and it was stated that it was in a structure that could always meet the shooting demands.
On the other hand, if Genesis fails to find the bailout fund it seeks and goes bankrupt, things could go equally badly for the Gemini side. It is known that Genesis continues to seek funding.