“Depending on how the bankruptcy claim is calculated, the Earn customers are estimated to get between $440 million and $765 million of a claim,” a DCG executive, who asked not to be identified, said in an interview. “That claim is estimated to receive distributions of $400 million to $535 million. And then on top of that Earn customers get the $600+ million dollars of collateral that Gemini is holding. So, they’re looking at total recoveries of a billion dollars or more, which is roughly their total claim. Essentially, it’s a full recovery for current customers under these scenarios.”
Source: https://www.coindesk.com/business/2023/09/13/beleaguered-gemini-earn-customers-will-be-made-nearly-whole-dcg-and-genesis-say-about-remuneration-plan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines