12/18/2023 0 Comments Gemini earn withdrawal fee![]() The collapse caused financial harm to Genesis and Three Arrows Capital. Terraform and its crypto suffered a sudden collapse. Other traders panicked and started liquidating their own assets from Terraform. Traders took advantage, converting hundreds of millions of dollars worth of Terraform’s crypto. This was a withdraw from a liquidity pool. Terraform, a blockchain company, withdrew $100 million worth of its own crypto in May 2022. Genesis also had financial troubles due to the May 2022 collapse of Terraform Labs. It even continued to try to lure in new investors. Gemini didn’t tell its investors its sole lending partner was in financial trouble. Three Arrows had filed for bankruptcy by that time. These losses were due to Genesis’ exposure to Three Arrows Capital. July 2022 reports mentioned Genesis suffered “ hundreds of millions” in financial losses. Genesis was in a state of financial distress in 2022. Gemini Earn actually only had a single lending partner, though: Genesis. It advertised to customers that it partnered with “vetted and accredited” borrowers. It ended up becoming one of the largest crypto companies in the U.S. ![]() Many of these investors lost a lot of crypto assets when the program collapsed. Gemini also hid risks from investors in Gemini Earn. Gemini did not register them as securities as they needed to under the law, though. Investors also lent cryptocurrency to Gemini through Gemini Earn in exchange for interest.įederal law considers these interest accounts to be securities. It sold interest accounts to investors through its Gemini Earn platform. Gemini is a cryptocurrency exchange and lending platform. We’ll recover the compensation you deserve as fast as possible. This will save you paperwork, travel and time. We’ll handle every step of obtaining compensation for you. We won’t charge you a fee unless and until we recover compensation for you. Fraud victims have a right to compensation.Ĭall us today for a free consultation if you lost money because of Gemini Earn’s collapse. Lawsuits allege that Gemini defrauded investors. Lawsuits also claim Gemini offered unregistered securities to investors. Lawsuits allege that Gemini hid risks from investors. Nadrich & Cohen is representing those who lost money because of the Gemini Earn crash.Ĭryptocurrency exchange and lending platform Gemini recently collapsed. ![]()
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