Gemini Abruptly Closes Accounts Over Stablecoin Redemptions

Gemini, the USA-based crypto exchange have closed two over-the-counter(OTC) trading desks abruptly closed without explanation over attempts to redeem GUSD, the company’s stablecoin. A trader told CoinDesk that “So many players are unable to redeem, even very, very big OTC desks. Having an account doesn’t guarantee redeemability.” This shows how measures to boost GUSD adoption have unintended impacts.

The post Gemini Abruptly Closes Accounts Over Stablecoin Redemptions appeared first on Incrypts.

Gemini Abruptly Closes Accounts Over Stablecoin Redemptions

A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.

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