Gemini Abruptly Closes Accounts Over Stablecoin Redemptions

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 aggressive measures to boost can turnout.

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