Gemini Trust: If approved by the court, Gemini Earn users will receive 100% physical digital asset return
Gemini Trust announced on X platform that it has reached a preliminary settlement with Genesis and other creditors in the Genesis bankruptcy case. If approved by the bankruptcy court, all Gemini Earn users will receive 100% of their digital assets in physical form. This means that Gemini Trust will return digital assets worth more than $1.8 billion, which is $700 million more than when Genesis stopped withdrawals on November 16, 2022.
If the bankruptcy court approves the settlement in principle, Earn users are expected to receive approximately 97% of their physical assets within about two months, with the remaining asset balance expected to be received within the next 12 months. This settlement is subject to the terms of the definitive documents. The necessary bankruptcy court procedures may take up to two months to complete, and Earn users will be notified promptly.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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