Arbitrator Clears Gemini of Fault in Earn Lending Program Collapse

An arbitrator ruled in favor of crypto exchange Gemini, finding the company not liable for the collapse of its Earn lending program and clearing it of misleading customers about the product's risks. The Earn program, which let users earn interest on crypto assets through a lending partner, collapsed years ago, leaving thousands of users unable to access their funds. The ruling eases some legal pressure on Gemini Space Station, although litigation tied to the broader Earn saga continues in other venues. For investors affected by similar lending-product collapses, the decision could serve as a precedent when assessing crypto platform liability. The episode is another reminder of the risks tied to centralized yield products in the crypto industry.