Gemini has officially discontinued its interest-bearing product, Earn, according to an email sent to users on Jan. 10.
Gemini says that it has terminated existing Master Loan Agreements with Genesis Global Capital — which provided the Earn program — on behalf of its customers.
“This officially terminates the Earn Program,” the email reads.
According to Gemini, Genesis is responsible for returning all outstanding assets to users. Gemini assured its users that existing redemptions are “not impacted” and said that it will seek a resolution for customers wanting to recover their assets.
Gemini added that arranging the return of user assets is its “highest priority” and asserted that it is acting with “utmost urgency.” It said that it will provide updates twice a week (on Tuesday and Friday) until it resolves the situation.
Though Gemini has not publicly announced the end of Earn, the company’s letter is now in general circulation on social media. Nono Martínez Alonso
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