More than 230,000 Gemini customers lost access to approximately $940 million worth of digital assets.
In the year and a half since then, crypto has staged a comeback, bringing the value of the frozen funds to $2.18 billion.
Wednesday’s announcement accounts for the appreciation of value in crypto, adding more than $1 billion to the total.
At the time FTX imploded, causing chaos in crypto markets, bitcoin sank precipitously to around $17,500.
Earn customers can expect to receive their remaining asset balance within the next 12 months, Gemini said.
Persons:
Cameron, Tyler Winklevoss, ’, ” Cameron Winklevoss, Gemini
Organizations:
New, New York CNN, Gemini, New York Department of Financial Services, bitcoin, FTX
Locations:
New York