#CryptoNewss #Megadrop

...new update ..

On 29 May 2024, Gemini exchange, founded by Tyler and Cameron Winklevoss, reported a significant development for users of its Earn program. According to a blog post published by the company, Earn users received $2.18 billion worth of digital assets. This recovery, which represents 97% of the digital assets owed to users, marks a significant step following the Genesis bankruptcy.

Significant Recovery Details

The announcement from Gemini outlined several key points:

97% Recovery: Users in the Earn program received 97% of their digital assets.$1 Billion Increase: The total recovered assets exceeded the initial amount by $1 billion when Genesis halted withdrawals.232% Recovery Rate: The recovery rate stood at 232%, compared to the value when withdrawals were halted by Genesis.

The valuation of these digital assets is based on their prices as of 28 May 2024, at 10 am ET.

Unprecedented Recovery

Tyler and Cameron Winklevoss characterized this recovery as unprecedented, not only within the cryptocurrency space but also in the broader context of financial bankruptcies. This follows an earlier announcement about a settlement with Genesis and other creditors involved in the Genesis bankruptcy, which ensures that all Earn users will eventually receive 100% of their digital assets back in kind