UPDATE about Gemini and Bitcoin Cash (good news)

Great news! August 23rd Gemini posted on their blog about probably allowing for Gemini users to withdraw their BCH within a few weeks. Great to hear about this Gemini & Cameron Winklevoss 🙂

We have been receiving a few questions regarding the custody of our customer’s Bitcoin Cash. Because of Gemini’s fiduciary obligations under the New York Banking Law, which we take very seriously, we are going to great lengths to ensure all of our customers’ assets on a forked blockchain, like “Bitcoin Cash,” are preserved. Under no circumstances will we capture those funds for our own use. Instead, as stated in our August 3rd blog post, we are focusing our engineering resources on (i) ensuring that our customers’ funds are secure and not susceptible to theft (e.g., replay attacks), and (ii) building a withdrawal mechanism.

In the coming weeks, we will open a facility to allow customers to withdraw (probably on an all-or-none basis) their BCC balances to an off-platform address of their choosing. This is conceptually what we did for the ETH/ETC fork as well, which you can read about in a previous post.

Read more about that on their announcement page here.

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