8/8/2023 0 Comments Gemini earn genesisFurther, DCG will exchange its existing 1.1 billion note due in 2032 for convertible preferred stock, and refinance its existing 2023 term loans in two. ![]() I had money to pay down my student loans in Earn getting higher interest than my student loan interest rates were (while everything is still paused) and I am extremely grateful to you all I didn’t lose that. Gemini will contribute up to 100 million more for Earn users, and according to a press release sent to Decrypt, the terms of the agreement with DCG includes the sale of Genesis Global Trading. Thank you for trying to warn others about the iceberg, as we were on the Titanic. In its statement, the SEC said Gemini deducted an agent fee as high as 4.29 from the returns Genesis paid to Gemini Earn investors, with Genesis exercising discretion on how to use the crypto assets. ![]() The structure of the product was that Gemini acted as an agent facilitating customer deposits of cryptocurrency with Genesis. 16, 2022, the day that Genesis froze withdrawals, Gemini told Genesis that it had sold 30.9 million GBTC shares through a private sale at the market price as of 4:00 p.m. I was probably one of the last people to redeem out of Earn (night of 14th after lurking/reading threads in this forum all day and marinating on it) and withdraw out of Gemini morning of the 16th email, and it’s because I read the dialogue on this thread and a few others and realized there were a lot of risk I wasn’t considering, and my money would be safer in HYSA for now, especially as the Earn interest rate had dropped from 8% to 5~% over time. The product in question is the formerly popular Gemini Earn program. I just want to say sincere thank you to the commenters in this thread for your encouragement to withdraw from Earn and more clearly explaining the risk of the landscape, as Gemini was sending reassuring emails out.
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