GUSD reserve funds
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Gemini: No risk exposure to Signature Bank
On March 13, Gemini, the cryptocurrency exchange, tweeted that Signature Bank had neither Gemini’s customer funds nor Gemini USD (GUSD) reserve funds. Interpretation of this information: On March 13th, cryptocurrency exchange Gemini made a statement via Twitter regarding the custody of their customer funds and GUSD reserve funds. The message relayed that Signature Bank, a New York-based bank that Gemini uses as a custodian, did not have possession of either their customer funds or their GUSD reserve funds. The tweet was brief and to the point, leaving many speculating as…
