Every time that Eric Asquith has opened up his Gemini crypto exchange account over the past month, he’s been greeted with the same message: “Pending.”
Asquith, a 41-year old lawyer based in Boxford, Massachusetts, held $1 million in Gemini Trust Co.’s Earn product, attracted by the potential for generating as much as 8% in interest on his holdings. In mid-November, though, founders Tyler and Cameron Winklevoss suddenly halted redemptions after a key partner, Genesis Global, became ensnared in the crypto contagion caused by the implosion of Sam Bankman-Fried’s FTX.
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