Summary
Gemini Earn, a program offering up to 8% interest on crypto investments, had 340,000 retail users and $900 million in assets. In November 2022, withdrawals were halted due to liquidity issues according to the SEC’s complaint.
Key Points
1. Gemini Earn offered up to 8% interest on crypto tokens to retail customers starting in February 2021.
2. According to the SEC’s complaint, Gemini Earn had around 340,000 retail users and $900 million in assets on its platform before withdrawals were halted in November 2022.
3. Genesis halted withdrawals from Gemini Earn due to “withdrawal requests which have exceeded our current liquidity.”