Connect with us

Technology

Gemini Earn Users Receive $2.18 Billion of Their Digital Assets in Kind — a 232% Recovery

Published

on

This unprecedented outcome paves the way for all Earn users to receive 100% of their digital assets back in kind.

NEW YORK, May 29, 2024 /PRNewswire/ — Today, Earn users received $2.18 billion of their digital assets in kind. These initial distributions represent:

97% of digital assets owed to Earn users$1 billion more than when Genesis halted withdrawals in November 2022A 232% recovery from when Genesis halted withdrawals in November 2022

The notional dollar value of digital assets returned to Earn customers is based on digital asset prices as of May 28, 2024 at 10 am ET.

The Earn program was an optional crypto lending program through which Gemini customers could lend funds to Genesis, a third-party borrower. After Genesis halted redemptions in November 2022 and filed for bankruptcy in January 2023, approximately 232,000 Earn users lost access to the digital assets they had lent to Genesis. At the time, these digital assets were worth approximately $940 million.

This represents an unprecedented recovery among crypto bankruptcies, as well as bankruptcies in general, and follows Gemini’s previous announcement that it reached a settlement in principle with Genesis and other creditors in the Genesis Bankruptcy, which will result in all Earn users receiving 100% of their digital assets back in kind.

This means, for example, that if a customer lent one bitcoin in the Earn program, they will receive one bitcoin back. This ensures that customers will benefit from any and all appreciation of their digital assets since they lent them into the Earn program.

In order to ensure this successful resolution, Gemini has also contributed $50 million to the Earn users’ recovery.

“We are thrilled that we have been able to achieve this recovery for our customers. We recognize the hardship caused by this lengthy process and appreciate our customers’ continued support and patience throughout,” said Cameron Winklevoss, Co-Founder and President of Gemini.

Today’s initial distributions represent approximately 97% of the digital assets in the Earn program. Earn customers can expect to receive their remaining asset balance within the next 12 months.

This outcome would not have been possible without the tireless efforts of the Gemini team. Amidst the broad market turmoil in the summer of 2022, Gemini entered into a security agreement in which Genesis promised to deliver to Gemini over 62 million shares of the Grayscale Bitcoin Trust (GBTC) to secure all of the loans made by Earn users to Genesis through the Earn program. Even though Genesis failed to deliver more than half of the promised collateral to Gemini, Gemini was able to use the delivered collateral to achieve today’s recovery.

“It’s important to note that the Genesis bankruptcy was not a crypto problem,” said Tyler Winklevoss, Co-Founder and CEO of Gemini. “It was old-fashioned financial fraud compounded by a lack of regulatory clarity. To that end, we will continue to fight for clear rules and guidance for our industry that foster both innovation and consumer protection. And we will win this fight. The future is bright.”

About Gemini

Gemini is a global crypto platform founded by Cameron and Tyler Winklevoss in 2014. Gemini offers a wide range of crypto products and services for individuals and institutions in over 70 countries. Gemini’s simple, reliable, and secure products are built to unlock the next era of financial, creative, and personal freedom.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/gemini-earn-users-receive-2-18-billion-of-their-digital-assets-in-kind–a-232-recovery-302158135.html

SOURCE Gemini

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Endurance Energy Equipment Showcases CNG, LNG & H2 Innovations at World Gas Conference 2025 in Beijing

Published

on

By

BEIJING, May 22, 2025 /PRNewswire/ — Chongqing Endurance Energy Equipment Integration Co. Ltd. (Endurance), a leader in natural gas equipment industry, took center stage at the World Gas Conference (WGC 2025) in Beijing. The event, themed “Empowering a Sustainable Future” drew over 3,000 delegates from 70 countries, including energy executives, policymakers, and technical experts.

Leading Manufacturer of the Industry

Specializing in complete solutions for natural gas utilization, Endurance designs, manufactures, installs, and commissions Hydrogen stations, CNG stations, LNG stations, L-CNG stations, LNG storage & regasification facility, LNG liquefaction plants, gas processing plant and flare gas recovery units. With more than 6,000 natural gas vehicle (NGV) refueling stations supplied in China—making it the country’s Champion Manufacturer—and over 2,000 NGV stations installed overseas. Meanwhile, Endurance is one of China’s earliest companies to develop LNG technology and successfully constructed 40 LNG plants since 2005.

Driving the Future of Clean Energy
At the heart of Endurance’s exhibition is its modular and scalable Containerized LNG Refueling Solution, designed to streamline infrastructure deployment for remote and urban applications. The solution emphasizes rapid installation, cost efficiency, and adaptability to diverse energy demands. Complementing this, Endurance’s Hydrogen Energy Solutions highlighted advancements in hydrogen production and refueling technologies, reinforcing the company’s commitment to accelerating the global energy transition.

Engagement and Expertise on Display
Endurance’s booth became a hub of international collaboration, welcoming thousands of attendees from Nigeria, India, Russia, Slovakia, Brazil, Peru, Columbia, Cambodia, Singapore and other countries. Industry professionals, government representatives, and technical experts engaged in dynamic discussions with Endurance’s technical team, exploring tailored applications of its solutions. Live demonstrations and interactive models allowed visitors to experience Endurance’s technologies firsthand, sparking partnerships and inquiries across sectors such as H2 stations, NGV stations and LNG infrastructure.

A Commitment to Global Sustainability

“We were thrilled to connect with so many professionals and leaders from across the globe,” said Endurance CEO Charles Du. “The demand for natural gas infrastructure is surging globally and our projects around the world prove that sustainability and energy security can go hand-in-hand.”

With a focus on quality, efficiency, customization and client service, Endurance aims at supporting the growing demand for cleaner and more sustainable energy solutions worldwide. Events like WGC play a critical role in connecting the company with key stakeholders and decision-makers.

For more information, visit: www.endurance-energy.com.

Email: export@naidenz.com

Photo – https://mma.prnewswire.com/media/2693943/on_site_photo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/endurance-energy-equipment-showcases-cng-lng–h2-innovations-at-world-gas-conference-2025-in-beijing-302462938.html

Continue Reading

Technology

“Hello Kitty Merch Match” Launching in 144 countries and regions worldwide in Summer 2025

Published

on

By

Collect the “World-famous character items” inside your smartphone

TOKYO, May 22, 2025 /PRNewswire/ — Applibot, Inc. (Headquarters: Shibuya, Tokyo; President: Koki Ukita) is launching a new smartphone game app “Hello Kitty Merch Match“, in 144 countries and regions worldwide this summer. Pre-registration for the game begins today, Thursday, May 22, 2025.

“Hello Kitty Merch Match” is a 3D puzzle game, offering simple, accessible gameplay where players find and tap on three matching character items. Over 1,000 different Sanrio character items appear in the game. Players of all ages can enjoy collecting and exploring this extensive virtual collection from nostalgic collectibles to the latest line ups.

Ahead of the game’s official release, Applibot has launched the official website and social media accounts, alongside revealing the visual and concept movie for the title. “Hello Kitty Merch Match” is scheduled for release in summer 2025 across 144 countries and regions worldwide.

Pre-Registration started!

Pre-registration is now available on both App Store and Google Play. By pre-registering, users will receive a notification when “Hello Kitty Merch Match” releases, with automatic download available within 24 hours of the release date. More information about “Hello Kitty Merch Match” will be announced via the official “Hello Kitty Merch Match” X (formerly Twitter) account and other channels.

*Note: The release date displayed on the App Store link is not the official release date.
*If the pre-order button (App Store) or pre-registration button (Google Play) is not active, please try accessing the page again later.

Concept Movie Released

The visual and concept movie for “Hello Kitty Merch Match” have been unveiled for the first time. In both the visual and movie, various Sanrio characters visit the world of “Sanrio character items”.

Hello Kitty Merch Match OverviewTitle: Hello Kitty Merch MatchGenre: 3D Match PuzzleRelease Date: Summer 2025Price: Free to play (In-app purchases available)Supported OS: iOS/Android (Availability may vary depending on the device model)Developer and Operator: Applibot Inc.Copyright notice: © ’25 SANRIO CO., LTD. APPR. NO. G650141 © Applibot, Inc.

 

【Official Links】

App Store: https://apps.apple.com/app/id6740388983
Google Play: https://play.google.com/store/apps/details?id=jp.co.applibot.HelloKittyMerchMatch
Official Website: https://hellokittymerchmatch.com/en
Official X (Twitter): https://x.com/HKMerchMatch
Concept Movie: https://www.youtube.com/watch?v=LRASLtEkQy8 

View original content to download multimedia:https://www.prnewswire.com/news-releases/hello-kitty-merch-match-launching-in-144-countries-and-regions-worldwide-in-summer-2025-302462943.html

SOURCE Applibot, Inc.

Continue Reading

Technology

Flo Monitor Arm by Colebrook Bosson Saunders Redefines Human-Centric Workspaces at ORGATEC TOKYO

Published

on

By

TOKYO, May 22, 2025 /PRNewswire/ — At the upcoming ORGATEC TOKYO 2025 expo (June 3-5), Colebrook Bosson Saunders (CBS), the leader in workplace ergonomics, is showcasing the newly relaunched Flo monitor arm, recently recognised with a Red Dot Design Award in April. Following the previous generation’s success in Asia, CBS will offer expo visitors the chance to experience Flo’s advanced ergonomics and industry-leading design, now optimised for modern screens. The brand will be stationed at Booth S1-F09 and is the only Silver Sponsor for the event.

 

 

To chat with CBS experts, please visit the link below:

https://orgatectokyo.app.swapcard.com/event/orgatec-tokyo-2025-1/exhibitor/RXhoaWJpdG9yXzIxNjgwODQ=

(Consultations available in Japanese, Korean, Chinese, and English)

As several East Asian countries grapple with aging populations, effects on workforces are emerging and worker wellbeing is becoming a greater focus. Japan particularly has seen a growing share of elderly re-enter or stay later in the workforce, according to recent reporting by The Asahi Shimbun.

“As workplaces and technology evolve, human-centric design remains at the core of everything we do,” commented Cecil Huang, Senior Marketing Manager – APMEA of CBS. “At ORGATEC, we are demonstrating how the reimagined Flo delivers future-ready, ergonomic workstations for any workforce.”

ORGATEC TOKYO 2025

To illustrate the brand’s theme — Human-centric design is at the core of everything we do — CBS will hold on-site demos of all the latest products — with the newly relaunched Flo taking centre stage. At a demo workstation with the latest screens, booth visitors can experiment with ergonomics by adjusting the Flo and seating to their optimal position. Also, a side-by-side comparison of both Flo generations will demonstrate its evolution.

The reimagined Flo

Emblematic of the brand’s values, the upgraded Flo maintains its core design while now supporting both flat and curved screens of up to 34 inches, 1000R, and from 2 to 7kg. In addition, it offers:

Minimalist design: The same clean, aesthetically pleasing contours but now with a new texture and contemporary colour block finishCustomisable ergonomics: With a unique diamond D-ring mechanism and patent-pending Flo Dual Rate Spring TechnologyIndustry-leading sustainability and circularity: 100% recyclable and made from 49% recycled materials

About Colebrook Bosson Saunders

Established in 1990 and part of the MillerKnoll collective since 2022, Colebrook Bosson Saunders focuses on seamlessly connecting people with technology, driven by its core values: to innovate, connect, and create.

For more information, please visit: https://www.colebrookbossonsaunders.com/

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/flo-monitor-arm-by-colebrook-bosson-saunders-redefines-human-centric-workspaces-at-orgatec-tokyo-302462950.html

SOURCE Colebrook Bosson Saunders

Continue Reading

Trending