An arbitrator rules that Gemini Space Station is not at fault for the collapse of its Earn lending program, finding insufficient evidence that the crypto exchange misled customers or failed to perform adequate due diligence on its lending partner. The decision is dated Aug. 12, according to reporting.
The ruling addresses claims that Gemini’s Earn product—structured around lending to Genesis Global Capital—suffered harm following Genesis’s collapse. In the findings summarized by outlets, the arbitrator concludes that the evidence presented does not support a determination that Gemini misrepresented key aspects of the arrangement or neglected required checks.
Different coverage focuses on what the arbitrator did not find. One outlet emphasizes the lack of proof of customer deception, while another highlights the conclusion that Gemini’s responsibility is not established under the claims brought.
