New DCG Protocol Lets Gemini Earn Users Recover Almost All Cryptocurrencies
September 14th, 2023

As part of the Genesis bankruptcy proceedings, DCG proposed a new creditor agreement in the Genesis bankruptcy case that would provide unsecured creditors with a baseline recovery rate of 70-90%. The agreement could allow Gemini Earn users to reclaim all cryptocurrencies held on the platform.

The agreement, which is awaiting creditor approval, seeks to renegotiate a $630 million loan between Genesis and DCG. Gemini Earn users holding approximately $607 million worth of collateral have the potential to receive compensation for up to 110% of their total claims (95-110%), according to the company.

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