Gemini offers crypto withdrawals for Voyager victims

Summary:

– Gemini is enabling crypto withdrawals for customers affected by Voyager’s bankruptcy.
– Customers can transfer their crypto to Gemini and withdraw their funds, but only for supported crypto.
– The promotion offers $5 worth of bitcoin after sign-up and verification within 30 days of account opening.

Gemini enables crypto transfers for victims of Voyager’s bankruptcy

Cryptocurrency exchange Gemini is allowing customers affected by Voyager’s bankruptcy to transfer their crypto to their Gemini accounts, enabling them to withdraw their funds. The exchange has warned customers that they can only transfer crypto supported by Gemini, with the transfer of unsupported crypto causing it to be lost and unrecoverable. Gemini is urging customers to ensure that they carry out the necessary checks before initiating a cryptocurrency deposit as the transfer of tokens to Gemini over an unsupported network could result in the loss of funds.

Promotional offer for new customers

Gemini has announced a promotion for new customers from Voyager in the US. New customers that sign up and verify their account within 30 days of opening will receive $5 worth of bitcoin.

Withdrawals from Voyager

Withdrawals from Voyager are expected to start between 20 June and 5 July. The app will be updated on 15 June to show the available amount for withdrawal.

Transferring tokens before the deadline

The crypto transfer window will be open until 23 July, with tokens not withdrawn from Voyager before the deadline set to be liquidated and distributed to customers in cash. Gemini is encouraging customers to transfer their tokens before the deadline to avoid the liquidation process.

About Voyager’s bankruptcy

Voyager filed for bankruptcy in July 2022 following the collapse of cryptocurrency hedge fund Three Arrows Capital, which owes the crypto brokerage $650 million.