Bankruptcy Court Verbally Approves Proposed Settlement Agreement for Gemini, Genesis and Their Bankruptcy Creditors

Gemini Trust has released an update regarding the Earn program: at the hearing on April 16th, the bankruptcy court orally approved a global settlement agreement between Gemini, Genesis, and other creditors in the Genesis bankruptcy case. This is another milestone in the process of fully restoring Earn user digital assets. The settlement agreement stipulates that as of the suspension date (November 16, 2022), the initial distribution amount to be distributed to Earn users is approximately 97% of their owed digital assets, and the initial distribution is expected to take place at the end of May or early June. The remaining distribution amount will be recovered from Digital Currency Group, Inc. (DCG).