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- Gemini says lending programme creditors will get back a 232% return on their investments.
- The money comes partly from sales of GBTC shares.
Bankrupt crypto lender Gemini announced on Wednesday that its Earn customers will recover more than $940 million in crypto more than triple what they lost when the firm shuttered the lending programme in early 2023.
Some 232,000 Earn users will recuperate 100% of their digital assets in-kind, Gemini said in a statement.
What does that mean? Well, if a customer lent one Bitcoin to Earn, they will get one Bitcoin back.
Thats great news for customers. With Bitcoin now at $67,000 compared with $20,000, when Genesis closed withdrawals Gemini clients will be making a 232% recovery in dollar terms,…
Read the full article at: https://www.dlnews.com/articles/markets/how-gemini-clients-made-a-killing-going-bankrupt/