This is crazy. Gemini does a lot of work to be "legit". If they are willing to cover the money if their backing provider fails, why not just pay it promptly and collect from the backend later?
Freezing withdrawals means they are screaming "we are insolvent" even if they aren't.
If they are willing to cover the money if their backing provider fails, why not just pay it promptly and collect from the backend later?
What makes you think they're willing to compensate their customers? Sure, it might be great for their reputation to do so, but they offered no such guarantees[1] and such a bailout will be tremendously expensive.
Comments
This is crazy. Gemini does a lot of work to be "legit". If they are willing to cover the money if their backing provider fails, why not just pay it promptly and collect from the backend later?
Freezing withdrawals means they are screaming "we are insolvent" even if they aren't.
What makes you think they're willing to compensate their customers? Sure, it might be great for their reputation to do so, but they offered no such guarantees[1] and such a bailout will be tremendously expensive.
[1] https://www.gemini.com/legal/gemini-earn-program-terms-and-a...