Crypto Exchange Gemini Back Online After Being Down for Over Seven Hours

The crypto exchange had paused withdrawals for its yield product recently.

AccessTimeIconDec 16, 2022 at 6:46 a.m. UTC
Updated Dec 16, 2022 at 8:21 p.m. UTC

Crypto exchange Gemini has come back online after being down for over seven hours since the late hours of Thursday due to a scheduled maintenance, the firm said.

In November, Gemini said withdrawals for its yield product would be delayed, as its partner Genesis Global paused withdrawals.

"The Gemini Spaceship will undergo scheduled Exchange maintenance on Thursday, December 15th from approximately 10:00 p.m. until Friday, December 16th at 12:30 a.m. ET," and all user interfaces and trading will be unavailable during that time, a notice on the exchange's status page said.

However, the exchange had postponed the service resumption multiple times since then, with the services being down for almost 7.5 hours. The crypto exchange said its services were restored at 10:30 UTC.

"Gemini is investigating reports of potential service disruptions. All customer accounts and funds remain completely secure." the exchange said

Gemini has also reportedly executed two rounds of layoffs since the start of the crypto winter, along with other firms, such as Coinbase (COIN) and Bybit.

UPDATE (Dec. 16, 10:22 UTC): Updates headline and story with updated time.

UPDATE (Dec. 16, 10:56 UTC): Updates headline and story with service resumption.


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Eliza Gkritsi is CoinDesk's crypto mining reporter.

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