Gemini’s Earn Customers Could Recover over 95% of Funds, Said Genesis and DCG

Reported Coindesk, Genesis and its parent company Digital Currency Group (DCG) say that over 230,000 retail creditors who used Gemini’s Earn program stand to be made “nearly whole” under a proposed remuneration deal to be voted on later this year.

Earn was offered to customers of the Gemini crypto exchange, but Genesis supplied the financial infrastructure that ran the program.

A filing on Wednesday states that if assorted Genesis creditor groups vote to approve a proposed deal, then “Gemini Earn users are estimated to recover approximately 95-110% of their claims.” Attorneys for Genesis and DCG had previously said unsecured creditors could receive up to 90% of the U.S. dollar equivalent of their holdings through the company’s reorganization.

DCG Reaches In-Principal Deal with Genesis Creditors, Could Recover Up to 90%

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