DCG floats 110% recovery for Gemini Earn clients—an offer that may be hard for the Winklevii to refuse

Digital Currency Group (DCG) reportedly floated a proposal that would let Gemini Earn customers recover 110% of the value of their claims, as Gemini and its co-founders Cameron and Tyler Winklevoss pushed for a better outcome for users locked out of funds after Genesis halted withdrawals in November 2022. The offer mattered because Earn customers had already been waiting months for their assets, and any recovery above face value suggested DCG was trying to settle a growing dispute over how much Genesis and its parent company owed. The broader context is the collapse of Gemini Earn, a lending program that routed customer crypto through Genesis Global Capital, a DCG subsidiary. Gemini later sued DCG and Barry Silbert in July 2023, accusing them of misrepresenting Genesis’ financial condition and withholding the truth from users, while New York Attorney General Letitia James also pursued related claims and said Gemini had misled investors about the risks of the program. Those legal and regulatory actions eventually led to full recovery for Earn users in 2024, with Gemini announcing that customers received a $2.18 billion in-kind distribution representing 97% of assets owed and a 232% recovery versus November 2022 valuations.

✨ AI-generated background, compiled from web sources — not editorial content.

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