![]() ![]() I generally understand that the coins are being borrowed, which can involve potential default. Depositing DAI into Gemini Earn at 7.4 interest seems like a good idea, especially if you want to avoid volatility in non-stable coins. A similar company called Ikigai revealed that it had lost access to a "large majority" of its assets on FTX. Gemini Earn Pros/Cons I’m a crypto newbie. As of today, it is estimated that the Gemini Earn investors are owed roughly 900 million. Gemini removed all marketing for the Earn product and all links to Gemini Earn were removed. Sino Global, a crypto-centric investment company, announced it had a "mid-seven figures" exposure to the exchange on Tuesday. That same day, the Gemini/earn website was redirected to a blog post titled An Important Message Regarding Gemini Earn. Today's moves from Gemini and Genesis are just the latest the ongoing fallout from the collapsing FTX Exchange led by Sam Bankman-Fried.īesides various lending outfits halting withdrawals, FTX's implosion has also left various trading desks and venture firms high and dry. We may earn commission from links on this page, but we only recommend products we back. The announcement added that the crypto exchange was working to redeem user funds from its Earn program "as quickly as possible." Gemini said that the move "does not impact any other Gemini products and services." If youre a Gemini, these crystals are particularly well suited to your zodiac sign. Well done Gemini keep fees low and yields high and I’ll keep using earn 11 38 comments Best Add a Comment STUDLYSTUDDERTON 2 yr. So DAI stable coin is essentially paying 5.40 apy. "We are aware that Genesis Global Capital, LLC (Genesis) - the lending partner of the Earn program - has paused withdrawals and will not be able to meet customer redemptions within the service-level agreement (SLA) of 5 business days," Gemini's post read. It also comes with unique features like Gemini Pay (a payment platform for purchases), Gemini Earn (for saving, lending and deposits) and Third-party. Earn Gemini just lowered the earn fee for BTC to 0.84 so I moved all my BTC to earn, also they raised DAI earn Yield to 7.40 with a fee of 2. "Gemini is partnering with accredited third-party borrowers including Genesis, who are vetted through a risk management framework which reviews our partners’ collateralization management process," reads the exchange's support page. ![]()
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