An arbitrator rules that Gemini did not mislead customers or fail to exercise due diligence in connection with its collapsed crypto lending program, which had been offered through the “Earn” product with Genesis Global Capital as a lending counterparty. The decision is reported to have been issued earlier in the month.
The ruling means claims brought in the arbitration are decided in Gemini’s favor on the key issues of alleged misrepresentation and diligence. According to Quartz, the arbitrator finds Gemini not liable for the collapse on those grounds, specifically concluding that Gemini did not mislead users and met the relevant due diligence expectations involving Genesis.
Yahoo Finance reports consistent outcomes, describing that an arbitrator finds Gemini not at fault for the Earn program’s collapse. While the outlets provide limited additional detail in the supplied excerpts, both sources characterize the decision as an arbitration win for Gemini rather than a finding of wrongdoing in how Gemini ran or supervised the lending arrangement with Genesis.
