Why is Gemini holding my funds? (2024)

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FAQs

Why is Gemini holding my funds? ›

They enforce this holding when you fund your Gemini account via a linked bank account (ACH) or for a number of other reasons. Gemini claims that this holding period is enforced until your ACH bank transfer settles into Gemini's accounts.

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How long does Gemini hold funds? ›

Gemini enforces a 7-10 day holding period on crypto and cash withdrawals. Here's everything you need to know about why they do it.

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Why can't I withdraw my funds from Gemini? ›

Account Verification Issues: Gemini enforces stringent Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols. Incomplete or pending account verification can lead to withdrawal restrictions. Users must provide accurate and complete documentation to meet the platform's verification standards.

Is my money safe in Gemini? ›

Our Exchange platform was built with a “security-first” mentality and uses institutional grade technology and protocols to custody Exchange cryptoassets. The majority of assets are held in our off-line cold storage system, with only a small portion held in our online hot wallet.

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Will Gemini unfreeze my account? ›

Once you've changed your password, we can start the process of unfreezing your account. This requires a short back and forth with our Support and Security teams.

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What is the lawsuit against Gemini? ›

In October 2023, Attorney General James sued Gemini for lying to investors about its Gemini Earn program. Gemini repeatedly assured investors that investing with Genesis through their Gemini Earn program was a low-risk investment.

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What is going on with Gemini? ›

KEY QUOTE. “Gemini failed to conduct due diligence on an unregulated third party, later accused of massive fraud, harming Earn customers who were suddenly unable to access their assets after Genesis Global Capital experienced a financial meltdown,” said NYDFS Superintendent Adrienne Harris in a statement.

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Will I ever get my money from Gemini? ›

Today, we are pleased to let you know that initial Earn distributions — approximately 97% of the digital assets owed to you by Genesis as of the suspension date (November 16, 2022) — are now available in your Gemini account. You can expect to receive your remaining asset balance within the next 12 months.

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Does Gemini allow instant withdrawal? ›

Most Gemini cryptocurrency withdrawal requests are processed within 2 to 3 hours (depending on the crypto asset), but they may take up to 48 hours in rare cases.

Is Gemini good or bad? ›

Geminians are intelligent and curious, with excellent communication skills. They are versatile and energetic, excelling in networking. However, they can be restless, indecisive, and inconsistent. Their love for communication may lead to gossiping, and their pursuit of variety may result in superficial connections.

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Is a Gemini trustworthy? ›

Gemini is a relatively safe exchange with fiduciary status. It requires all users to implement two-factor authentication. The company prides itself on offering safe and secure crypto trading services.

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Can you call Gemini support? ›

Gemini does not offer phone support. All support is provided via email. You will only be contacted via a valid Gemini email. Emails from Gemini will always end with the .

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Does Gemini hold funds? ›

If you recently made a buy order using a Debit card, a 24 hour withdrawal hold is placed on your account. This includes Debit card payments made using Apple Pay and Google Pay. The withdrawal hold will be active for the duration that the funds are in transit.

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How long does Gemini take to clear funds? ›

Funds sent by domestic wire transfer will typically be available in your account within 1-3 business days or sooner (this timeline may vary based on the internal processes of your bank).

Did Gemini pause withdrawals? ›

Gemini has announced a $2.18-billion distribution to its Earn program users 18 months after it suspended withdrawals.

When can I get my money back from Gemini? ›

You can expect to receive your remaining asset balance within the next 12 months. The initial distributions are in kind, meaning that if you lent one bitcoin in the Earn program, you will receive one bitcoin back.

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Is Gemini instant withdrawal? ›

The funds are made available in your account for trading at our discretion. After four to five business days, the funds are available for withdrawal as this is the amount of time ACH transfers take to settle. Note: a business day does not include weekends or US federal holidays.

What is the Gemini crypto scandal? ›

A crypto exchange that was accused of lying to hundreds of thousands of customers about the risks tied to a failed investment program agreed to return $50 million of digital assets to resolve a suit by New York Attorney General Letitia James.

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