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Winklevoss Twins' Gemini Promises to Return $1.1B to Earn Customers

Gemini Earn customers will receive 100% of their locked-up holdings – potentially north of $1.1 billion – from the now-defunct program after a settlement with the New York Department of Financial Services, NYDFS announced Wednesday afternoon. As part of the settlement, Gemini will give Genesis – which provided services that helped Earn function – $40 million for its bankruptcy proceedings, which are ongoing, and pay $37 million to NYDFS. In a tweet, Gemini said this would amount to 100% of customers' assets, received in-kind, assuming a bankruptcy court signs off on the agreement. Earn was a product that let Gemini customers earn interest on cryptocurrency investments.

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