Gemini officially terminates the Genesis loan agreement and the Earn financial product

ChainCatcher news, according to The Block, Gemini stated in an email to clients that it will terminate its customer loan agreement with Genesis and will end the Earn financial product. Gemini indicated that it will prioritize the return of customer funds and "operate in the most urgent manner." Existing redemption requests and Gemini's ability to recover customer assets are not affected by the resolution of the loan agreement.

Gemini stated that it will provide updates at least every Tuesday and Friday, "until a resolution is reached." (The Block)