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How much does Genesis owe Gemini customers?

Dec 3 (Reuters) - Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins' crypto exchange Gemini $900 million, the Financial Times reported on Saturday.

What's going on with Gemini & Genesis?

Gemini and Genesis have been locked in a public battle over the Gemini earn program, which allowed users to deposit their cryptocurrencies and receive yields of between 0.45% and 8% interest, similar to a bank account. Genesis was the primary partner for the service.

How much money will Gemini contribute to earn?

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.

Will Gemini recoup funds from Genesis & DCG?

Gemini, which runs a crypto lending product in partnership with Genesis, has now formed a creditors' committee to recoup the funds from Genesis and its parent DCG, the report added.

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