To coordinate efforts and lobby for a solution to the crypto exchange’s faltering Earn program, which halted customer redemptions on November 16, Gemini established an ad hoc committee with other creditors.
The information was provided by Cameron Winklevoss, a co-founder of Gemini, who tweeted that the Creditor Committee had “employed Kirkland & Ellis as lawyers to lobby on its behalf.”
The restoration of customer cash, according to Winklevoss, “is our highest priority and we are functioning with the utmost urgency.”
The tweets come in response to Financial Times reporting earlier this month that cryptocurrency brokerage Genesis and its parent business, Digital Currency Group, owe Gemini customers $900 million. Gemini is apparently making an effort to get the money back.
According to some documents and statements, Gemini owes around 1.8 billion to it’s creditors.
