Mkt Cap$2.27T+0.23%
24h Vol$52.32B
BTC Dom56.5%
ETH Dom8.9%
F&G13Extreme Fear
BTC$63,999.00+0.17% ETH$1,676.03+0.36% USDT$0.9994+0.00% BNB$608.84+0.14% USDC$0.9998-0.01% XRP$1.15+1.39% SOL$68.05+0.52% TRX$0.3171+1.04% FIGR_HELOC$1.04+0.35% DOGE$0.0879-0.61% HYPE$59.92-2.04% USDS$0.9998-0.01% LEO$9.61-0.35% RAIN$0.013-0.69% ZEC$408.24-2.22% XMR$345.26-4.91% BTC$63,999.00+0.17% ETH$1,676.03+0.36% USDT$0.9994+0.00% BNB$608.84+0.14% USDC$0.9998-0.01% XRP$1.15+1.39% SOL$68.05+0.52% TRX$0.3171+1.04% FIGR_HELOC$1.04+0.35% DOGE$0.0879-0.61% HYPE$59.92-2.04% USDS$0.9998-0.01% LEO$9.61-0.35% RAIN$0.013-0.69% ZEC$408.24-2.22% XMR$345.26-4.91%
BTC+0.17% Market Analysis

With $3+ Billion in Deposits, Gemini Earn Halts Withdrawals

Gemini is now the latest to experience the crypto contagion from the collapse of FTX and Alameda Research.

Tim Fries
Tim Fries Tim Fries is the cofounder of
Nov 16, 2022 1 min read
A worried trader sitting in a cafe looking at his phone
Image courtesy of 123rf.
Editorial disclosureRead more

All reviews, research, news and assessments of any kind on The Tokenist are compiled using a strict editorial review process by our editorial team. Neither our writers nor our editors receive direct compensation of any kind to publish information on tokenist.com. Our company, Tokenist Media LLC, is community supported and may receive a small commission when you purchase products or services through links on our website. Click here for a full list of our partners and an in-depth explanation on how we get paid.

Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
  • According to an update from Gemini on November 16, 2022, Gemini’s Earn program has paused withdrawals.
  • Gemini advertises up to 8.05% APY on select cryptocurrencies deposited on its platform. By the end of August 2022, the total value of digital assets deposited on Gemini Earn exceeded $3 billion.
  • Gemini says they are “not able to meet customer redemptions” per their own service-level agreement which allows for five business days.
  • The lending partner of Gemini’s Earn program is Genesis Global Capital, which also paused withdrawals on November 16th.
  • Today’s announcement does not effect Gemini’s cryptocurrency exchange. According to Gemini, the exchange’s assets are held 1:1 and are “available for withdrawal at any time”.
  • The news arrives as firms across the digital space continue to experience the negative effects of FTX’s collapse.

This is a developing story and will be updated as new details emerge.

Join our Telegram group and never miss a breaking digital asset story.

FTX collapse Gemini Earn Genesis
Tim Fries

Tim Fries

Author · Tokenist

Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.

Related Stories