Crypto exchange Gemini withdrew $282 million from Genesis, a cryptocurrency lender, in August 2022, months before Genesis filed for bankruptcy in January 2023. Gemini has said that the withdrawal was part of its normal risk management practices, but some experts speculate that it may have been a sign that Gemini was concerned about Genesis's financial health. The bankruptcy of Genesis has raised concerns about the safety of cryptocurrency lending platforms. Gemini has said that it is working to protect its customers and that it is confident in its long-term prospects.