FTX collapse hits Winklevoss twins with $900M of their customers' money frozen

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Adding the Winklevoss twins to the list of people feeling the heat is a good thing.

A report that $900 million of customers' money was frozen after Genesis halted withdrawals last month has led to the formation of a committee to recover funds.

The return of your funds is our highest priority and we are doing everything we can to get it done as quickly as possible.

The implosion of Sam Bankman-Fried's FTX crypto empire resulted in Genesis freezing withdrawals from a key platform.

Genesis was one of the main partners of the "earn" program, in which retail investors were paid for allowing their assets to be lent out. A person familiar with the matter says that a lot of customer deposits got hung up.

Genesis and its parent company, Digital Currency Group, are looking for outside investment to bolster its books.

Genesis had no comment and a message was not immediately returned.

The Winklevoss brothers used money they won in a legal settlement with Facebook to start their own digital currency, called Gemini.