Gemini Trust: Authorized to monetize more than 30.9 million GBTC held

Gemini Trust posts an update on Earn on the X Platform: On February 14, Judge Lane granted Genesis’ motion to authorize the sale of the trust’s assets. Under the order, Gemini is authorized to begin monetizing the initial collateral it holds (30,905,782 GBTC) back to Earn users. This is an important step that will facilitate in-kind distributions to Earn users (i.e., return to Earn users of the specific digital assets they have lent, rather than the equivalent value in U.S. dollars or alternative cryptocurrencies).