All
Contribute!
BlockchainCrypto MarketCryptocurrency

Breaking: Gemini Earn halts withdrawals due to ‘market turmoil’ caused by FTX fallout

CoinSurges
By CoinSurges

Share This Post

  • Cryptocurrency exchange Gemini announced that it has paused withdrawals on its Earn program.
  • Genesis Global, the lending partner of the Earn program, halted withdrawals Nov. 16 due to the “unprecedented market turmoil” the FTX collapse has created.
  • With withdrawals halted until further notice, Genesis will not be able to meet customer redemptions as part of its service-level agreement (SLA) with Gemini Earn.

  • The company said that it was working with the Genesis team to help customers redeem their funds from the Earn program “as quickly as possible” but provided no date as to when withdrawals might resume.
  • None of Gemini’s other products or services have been impacted by this and all of the customer funds held on the Gemini exchange are held 1:1 and available for withdrawal at any time, the company said.

The post Breaking: Gemini Earn halts withdrawals due to ‘market turmoil’ caused by FTX fallout appeared first on CryptoSlate.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Crypto.com Gets Bahrain License, Amber Group Approved in Dubai

Cryptocom has secured a payment service provider (PSP) license from the Central Bank of Bahrain (CBB) This license allows the crypto exchange to offer e-money and fiat-based payment services,

Solana (SOL) Flies 12% To Reclaim $140, Is $160 Next?

Solana (SOL) joined the recent crypto market pump after climbing 10% on Thursday SOL’s price broke above a key resistance level, reigniting the bullish sentiment among investors and traders who

Seattle Airport Hit by $6M Bitcoin Ransom Demand After Cyberattack

Hackers have targeted Seattle-Tacoma International Airport with a ransomware attack, demanding 100 bitcoins to buy the data back Although the airport managed to fend off most of the damage, the

Solana Maintains A 100% Uptime For 7 Straight Months Ahead Of Firedancer

Solana, a modern blockchain and one of the top smart contract platforms, looking at a screen grab shared by one observer on X, has achieved a remarkable milestone Over the past seven months, the

Will Bitcoin Break Through $70k? Short-Term Holders’ Buy Price Holds The Key

Recent CryptoQuant analysis suggests that short-term Bitcoin holders’ average buy price could be a key factor in predicting the leading crypto’s future movements The focus is on holders

Louisiana Announces Crypto Payment Options for State Services

The US state of Louisiana has announced that residents can now use bitcoin, bitcoin lightning, and USD Coin to pay for state services through private, secure crypto wallets “By introducing
Previous article
Polkadot Price Prediction for Today, 16 November: DOT May Commence Bullish Movement
Next article
zkSync developer Matter Labs raises $200M, commits to open-sourcing platform

Categories:

Hot right now:

Company:

Follow on:

Crypto Coin Live Stats

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.