[SevenNation]

> On Wednesday, the crisis touched a high-profile crypto lender run by the billionaire twins Cameron Winklevoss and Tyler Winklevoss, forcing them to halt withdrawals from their Gemini Earn crypto lending program. ... The Gemini Earn program allowed users to deposit their coins in exchange for regular interest payments — typically at generous rates that could be as high as 8%.

The Gemini Earn page appears to redirect to this announcement:

> We are aware that Genesis Global Capital, LLC (Genesis) — the lending partner of the Earn program — has paused withdrawals and will not be able to meet customer redemptions within the service-level agreement (SLA) of 5 business days. We are working with the Genesis team to help customers redeem their funds from the Earn program as quickly as possible. We will provide more information in the coming days.

https://www.gemini.com/blog/an-important-message-regarding-g...

The language of this announcement is bizarre. Withdrawals are "paused," not "halted" as reported. In other words, there's a chance that Genesis will cough up the funds.

But the biggest red flag is that nothing is said about new deposits. Apparently, Team Gemini is still taking them. This is, unfortunately, par for the course with these schemes going all the way back to Mt Got. "Pause" withdrawals, but continue to allow deposits. The language of the announcement makes this look like a temporary blip that will soon be resolved. It's a tactic with a long history and an almost boringly predictable outcome.

[codehalo]

Gemini hasn't pause withdrawals, Genesis has.

Did you read the article you linked to?