Gemini Earn users may be able to recover almost all their cryptocurrency holdings under a new agreement between Genesis and Digital Currency Group.
In a Wednesday filing, DCG outlined a proposal that will allow creditors to recover between 70% to 90% of their funds, with a significant portion of the recovery in digital currencies.
The firm has made headlines this year due to ongoing negotiations between its subsidiary Genesis and its creditors, particularly Gemini.
The feud between Gemini co-founders Tyler and Cameron Winklevoss and Silbert escalated when Genesis froze withdrawals from its retail lending program, Earn.
Subsequently, investigations by the Bureau of Investigation and the Securities and Exchange Commission have been opened into Genesis as well as subsequent actions taken by the company itself.
The new agreement would revolve a $630 million loan from Genesis to DCG into a two-year note backed by GBTC, which has appreciated significantly over the past year.
Under the new terms, Gemini Earn creditors would also benefit from the appreciation
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