Your Say Matters: Understanding the Genesis Bankruptcy Update and Your Vote

So I just received this email from Gemini. I uses this exchange for my BTC spot purchases and off-ramp.

I was just experimenting with Gemini Earn awhile back and didn’t think of much. It’s just dust amount, some DAI staking, thus I got this related email. It does not affect me, but it might for you, if you have a lot of assets under Gemini Earn that’s stuck and unable to redeem/withdraw, then please read on.

Well basically in layman terms, remember when Genesis had some money troubles and went into bankruptcy? Now, they’re trying to figure out how to deal with it, and they want your opinion!

The court has said that they need to make a plan, and you, as someone who used Earn with Genesis, get to have a say in whether you like the plan or not. It’s like voting on a decision.

Gemini, the company helping out in this situation, sent you some documents (you can find them on their website). They’re kind of like the instruction manual for what’s going on. There’s also a voting form you need to fill out, and you can do it online.

They’ve given you a deadline – January 10, 2024 – to cast your vote. It’s important to read everything carefully because your decision might affect how much of your money you get back.

Just keep in mind, this is a bit complicated, and there’s a chance things might change in the future. Gemini can’t promise exactly how much money you’ll get back, but they’re doing their best to make sure you get something.

Find more details of the restruction plans at https://restructuring.ra.kroll.com/genesis/

Read Gemini solicitation package at https://assets.ctfassets.net/jg6lo9a2ukvr/4Q0XjALy2e0T5XHyuBsFW6/a898c488e035028134587c38d94b093d/Gemini_Solicitation_Package.pdf

After reading and decided, you can ballot online at https://forms.ra.kroll.com/efiling/fr/solicitation/eballot-main/new. For your vote to count, your ballot must be received by Kroll, by January 10, 2024, at 4:00 p.m. Eastern Standard Time.

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