Gemini Earn customers loaned their crypto deposits to Genesis, which then lent them out in exchange for offering Gemini customers a high yield on their deposits. In November, however, Genesis froze withdrawals, leaving an estimated 340,000 Gemini Earn customers and $900 million in crypto up in the air.
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- Source: https://www.coindesk.com/policy/2023/01/13/former-sec-lawyer-says-agency-pushing-to-be-crypto-regulator-with-geminigenesis-suit/?utm_medium=referral&utm_source=rss&utm_campaign=headlines