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by andirk 1307 days ago
Let's be clear: this says they're _pausing_ withdrawals. Could be forever or it could be like FDR's Bank Holiday to allow a calm amount of transactions to occur over time.

Welp, once again I am proud of myself for being a gambler with the winds of luck at my back, and this is another example: I took out all my GUSD -> USD including a couple thousand $ profit from the Earn program a few weeks ago. Not because I was ahead of the game but because I used that $ for my house remodel. Thanks Gemini!

1 comments

These companies operate out of pacific islands. All they have is trust. Once trust is broken it is gone. There is no unpause
Gemini made it very clear that the Earn program had exposure to risk and described that risk step-by-step. Low risk, low reward.

Gemini the exchange is supposedly regulated similar to an American bank and as far as I know not directly affected by or responsible for the pausing of Earn withdrawals. My hope is that it's a matter of low liquidity at a moment rather than some1 ran out the back door w/ the loot.