Gemini Exchange Lending Rates Spike

Gemini Exchange Lending Rates Spike

Cryptocurrency & Blockchain

Today, Wednesday, November 16th, the Crypto market continued to feel the reverberating pain from the FTX disaster.

One of the most respected firms in the Crypto world, Gemini, apparently saw their Gemini Dollar lending rates spike to levels above 70%. These lending rates are public knowledge and are visible on the decentralized finance lending protocol Aave.

This occurred shortly after Gemini’s announcement regarding withdrawals from their Earn offering. These may become delayed now as a result of Genesis halting withdrawals from their lending arm. Genesis is a firm that acts as the Gemini exchange’s servicer for their Earn product.

See our discussion last night with Crypto Hedge Fund Manager James Koutoulas on FTX & Sam Bankman-Fried:

FTX Collapse Explained : Crypto Fund Manager James Koutloulas on FTX, MF Global, Refco & SBF
Cryptocurrency & Blockchain

Gemini Exchange Lending Rates Spike