Will Gemini contribute $100 million to Genesis' recovery plan?

Crypto exchange Gemini will contribute $100 million in cash to a recovery plan for bankrupt crypto lender Genesis. The exchange, founded by the Winklevoss twins, said the funds would be reserved for its Earn users, who had about $900 million of assets frozen when Genesis paused withdrawals. Cameron and Tyler Winklevoss.

Why did Genesis raise $175 million?

The rush to raise cash by Genesis was precipitated by a liquidity crunch at its lending unit after the implosion of crypto exchange FTX. Genesis halted redemptions shortly after revealing on November 10 that it had $175 million locked in an FTX trading account.

What is the cost of 100 Genesis crystals?

Buying 100 Genesis Crystals costs 1.60 in both Dollars and Euros. In spite of this, 100 Genesis Crystals are not available for purchase. Before purchasing Genesis Crystals, it's worth mentioning that certain restrictions apply.

How much cash does Genesis have?

Genesis stated it has over $150 million in cash, which it plans to use as liquidity to support its ongoing operations and facilitate its restructuring process.