![]() ![]() dollar deposits in your Fiat Account held in one or more Omnibus Accounts at one or more Banks located in the United States are held with the intention that they be eligible for Federal Deposit Insurance Corporation (“FDIC”) “pass-through” deposit insurance, subject to the Standard Maximum Deposit Insurance Amount per FDIC regulations (currently $250,000 per eligible Gemini Customer) and other applicable limitations. USD transferred to or held on the platform as USD is FDIC insured. "Digital Assets are not subject to Federal Deposit Insurance Corporation (“FDIC”) or Securities Investor Protection Corporation protections." - Gemini User Agreement dollar deposit portion of the GUSD reserves." - Gemini Website The cash portion of these GUSD reserves may be eligible for FDIC “pass through” insurance for Gemini customers, in the event of the failure of a bank holding the U.S. treasury bonds and maintained at a custodian. FDIC-insured bank accounts and money market funds holding short-term U.S. About 3 days for me to have funds converted back to USD from Earn. Currently moving most of the funds off the Exchange just leaving some to buy the dip on ETH. Had a small heart attack last night when Gemini was 'Temporarily Grounded' randomly. ![]() dollar held by Gemini in accounts at U.S. EDIT 2: All GUSD has been transferred from Gemini Earn to Gemini exchange this morning. GUSD may be FDIC insured, by proxy, but not explicitly. According to the information provided on Geminis website, GUSD (that is held in your Gemini account) is insured up to 250,000 per user - EDIT: as another commenter mentioned, the GUSD itself is not insured, but the GUSD in your account represent assets that ARE insured. For example:ġ.) GUSD Earn until November collecting the 6.9%, then pulling the trigger on I-bonds in November, if the rates make sense and you don't need the money for 12-15 months.Ģ.) Buying shorter term Treasury bills and notes, collecting the smaller interest, then rolling over into I-bonds in November, if the rates make sense and you don't need the money for 12-15 months. The better alternative, IMO is to wait until November CPI is released to know which rates you get for the full 12 months and collect interest on other things in the meantime if you're looking for fixed income investments. These batches of Earn redemptions went from Pending, to Complete, back to Pending during this week, and now we are stuck on pending without access to our funds. The rate on I-bonds in November must be above 4.6% in order to break even with GUSD earn and that would be a 15-month waiting period to get the full amount of interest at 9.6/4.6 for the 2 6-month periods. Gemini Earn Alot of us are nervous regarding the delays in Earn redemptions that started earlier in the week on the 9th/10th. the underlying asset you are lending (Dai) is not viable and could eventually fail while it was lent. where you are losing custody of your digital asset. Less interest than Gemini, safer, but inaccessible until the end of the 12-month period. If you use Dai on Gemini ‘Earn’, your risk is: the inherent risk of ‘Earn’ - or ANY lending / interest earning service like Blockfi, Celsius, etc. ![]() By November, that rate, if disinflation & recession hit the US economy could go to zero, meaning 4.8% APY with a 1-year lock. ![]()
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