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Business Profile

Cryptocurrency Exchange

Gemini Trust Company, LLC

This business is NOT BBB Accredited.

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Complaints

Customer Complaints Summary

  • 544 total complaints in the last 3 years.
  • 218 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:12/13/2022

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    On 11/16/2022 I tried to access my account with Gemini. I received a message that my password was expired. I was then instructed how to gain access to my account. The agent I was communicating with was very fast to respond. I received a ticket number: *******. I completed the instructions, but since then I have not heard back from Gemini. I followed up twice since then, but received no reply. I used Gemini to buy cryptocurrencies and they have about $15K of my assets. I have no access to my funds.

    Business Response

    Date: 12/27/2022

    ******** *** ****


    ************************* ***********************
    ** ******************************************************* **


    Re: BBB Complaint ID: ********
    ************************************** or we) has reviewed the complaint filed by **************************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved, and the restriction on ******************* account has been lifted.
    Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.
    We believe that we handled ******************************** complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by *** *********************** as a result of this matter. 


    Best,
    Gemini Trust Company, LLC.


  • Initial Complaint

    Date:12/09/2022

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Gemini will not return my money. I madw a withdraw on Nov 18 and my funds still are not available.

    Business Response

    Date: 01/07/2023

    ******* ** ****


    *************************
    ** ********************************************** **


    Re: BBB Complaint ID: ********


    Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by ****************** with the Better Business Bureau and appreciates the opportunity to respond.

    Gemini Earn is a lending program through which customers may choose to lend their digital assets to certain institutional borrowers and earn interest on their loan. Gemini Earn funds are held by *********************** LLC ********* and lent pursuant to a service-level agreement between Earn users and ******** with Gemini acting as an agent for the Earn user. On November 16, 2022, ******* announced that it had paused withdrawals of Earn user funds and as a result would not be able to meet customer redemptions within the service-level agreement timeframe. 

    We are working with the ******* **** towards a resolution aimed at helping Earn users redeem their funds from the Earn program as quickly as possible.

    This does not impact any other Gemini products and services. Gemini is a full-reserve exchange and custodian. All non-Earn customer funds held on the ********************** are held 1:1 and available for withdrawal at any time.  

    We endeavor to provide Earn users including ****************** with more information regarding their Earn withdrawals as we receive it. 


    Best,
    Gemini Trust Company, LLC.

  • Initial Complaint

    Date:12/08/2022

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Gemini has all my money and will not let me withdraw my money as promised.

    Business Response

    Date: 12/21/2022

    ******** *** ****

    **************************
    ** **************************************** **

    Re: BBB Complaint ID: ********

    Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by ****************** with the Better Business Bureau and appreciates the opportunity to respond.

    Gemini Earn is a lending program through which customers may choose to lend their digital assets to certain institutional borrowers and earn interest on their loan. Gemini Earn funds are held by *********************** LLC ********* and lent pursuant to a service-level agreement between Earn users and ******** with Gemini acting as an agent for the Earn user. On November 16, 2022, ******* announced that it had paused withdrawals of Earn user funds and as a result would not be able to meet customer redemptions within the service-level agreement timeframe. 

    We are working with the ******* **** towards a resolution aimed at helping Earn users redeem their funds from the Earn program as quickly as possible.

    This does not impact any other Gemini products and services. Gemini is a full-reserve exchange and custodian. All non-Earn customer funds held on the ********************** are held 1:1 and available for withdrawal at any time.
     
    We endeavor to provide Earn users including ****************** with more information regarding their Earn withdrawals as we receive it. 

    Best,

    Gemini Trust Company, LLC.

  • Initial Complaint

    Date:12/05/2022

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Over the past year I put $6,000 into buying GUSD, Gemini stable coin that advertises its Stable and Fully Backed. GUSD1 is a 1:1 USD-backed stablecoin issued by Gemini. I then put that money into the Gemini Earn Program. I made $220 in interest. Now they have frozen my money. I was under the assumption that it was very safe and never was told I can lose it all. Would you put $,6000 in an account to make $220 dollars in interest if you knew you could lose it all? If you read the company website they say all over how safe it is and your funds are fully backed. GUSD it self is still trading at $1.00. How are they still in business and still advertising to buy their products and use their website ? I have filled out several complaints with Gemini Support only to get the same auto response emails back saying they are working on it. No way of contacting anyone there. Furthermore you cant find any info on their website about the Earn Program now. Only thing I can find now on there is a Page saying PROGRAM RISKS: YOU ACCEPT THE RISK OF LOSS ASSOCIATED WITH LOAN TRANSACTIONS, UP TO, AND INCLUDING, TOTAL LOSS OF YOUR AVAILABLE DIGITAL ASSETS. Call me stupid but I was totally not at all aware of that. How is it possible that they can just take my $6,000 dollars which I supposedly made only $220 in interest from? Ive have lost thousands in investing in crypto coins and that I can accept because it was my fault for investing in it myself but I believed this to be a safe secure way to make a little interest. Whether they have changed the website or not I have no idea of knowing now. I was for sure not made aware of the risks. This will severely impact my life, I needed that money to get my teeth fixed so that I can goto back to work, not too mention the pain I am in now. I cannot believe people can just take your money like that ? And WHY are they still in business? I know you are gonna tell me its my fault and the money is lost. Any help would be appreciated. Thank You.

    Business Response

    Date: 12/13/2022

    ******** *** ****

    *********************************************************************************************** **

    Re: BBB Complaint ID: ********

     

    Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by **************** with the Better Business Bureau and appreciates the opportunity to respond.

    Gemini Earn is a lending program through which customers may choose to lend their digital assets to certain institutional borrowers and earn interest on their loan. Gemini Earn funds are held by *********************** LLC ********* and lent pursuant to a service-level agreement between Earn users and ******** with Gemini acting as an agent for the Earn user. On November 16, 2022, ******* announced that it had paused withdrawals of Earn user funds and as a result would not be able to meet customer redemptions within the service-level agreement timeframe. 

    We are working with the ******* **** towards a resolution aimed at helping Earn users redeem their funds from the Earn program as quickly as possible.

    This does not impact any other Gemini products and services. Gemini is a full-reserve exchange and custodian. All non-Earn customer funds held on the ********************** are held 1:1 and available for withdrawal at any time.  

    We endeavor to provide Earn users including **************** with more information regarding their Earn withdrawals as we receive it. 

    Best,
    Gemini Trust Company, LLC.

  • Initial Complaint

    Date:12/02/2022

    Type:Service or Repair Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    This is my account setup with Gemini for trading and Crypto and now I was trying to withdraw my cash from three weeks. They blocked all withdrawals and regardless of my several emails requesting for update for withdrawal they were sending automated email to do more wire transfer for withdrawal. I told I am in need of money and no reply to my emails.

    Customer Answer

    Date: 12/02/2022

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.

    Sincerely,

    ***********************************



     

  • Initial Complaint

    Date:12/02/2022

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    11/16/22 Initiated withdrawal/Redemption more than $1000 USD worth of GUSD (virtual currency) from Gemini Trust Company, LLC. through Gemini.com from their Gemini Earn Grow/Savings program. Their stated timeframe for redeeming funds in this type of transaction is 5-7 business days. On 11/29/22 Filed a complaint with the New ********************* of ********* Services (DFS) where Gemini Trust Company, LLC does business was advised to file a complaint with CFPB and my state's *************************** On, 11/30/22 Contacted Gemini Customer Support, and given no new information, directed to their blog and status page. 12/1/22, Filed Complaints with CA OAG ********* Services, Filed this complaint.

    Business Response

    Date: 12/16/2022

    ******** *** ****


    *******************************
    **** *******
    *** ***
    ************************************* **


    Re: BBB Complaint ID: ********


    Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by **************** with the Better Business Bureau and appreciates the opportunity to respond.

    Gemini Earn is a lending program through which customers may choose to lend their digital assets to certain institutional borrowers and earn interest on their loan. Gemini Earn funds are held by *********************** LLC ********* and lent pursuant to a service-level agreement between Earn users and ******** with Gemini acting as an agent for the Earn user. On November 16, 2022, ******* announced that it had paused withdrawals of Earn user funds and as a result would not be able to meet customer redemptions within the service-level agreement timeframe. 

    We are working with the ************ towards a resolution aimed at helping Earn users redeem their funds from the Earn program as quickly as possible.

    This does not impact any other Gemini products and services. Gemini is a full-reserve exchange and custodian. All non-Earn customer funds held on the ********************** are held 1:1 and available for withdrawal at any time.  

    We endeavor to provide Earn users including **************** with more information regarding their Earn withdrawals as we receive it. 


    Best,
    Gemini Trust Company, LLC.

  • Initial Complaint

    Date:12/01/2022

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I just requested withdrawal of funds from Gemini and they locked my account. ************************.

    Business Response

    Date: 12/14/2022

    ** ******** ****

    *************************** *****

    **** *************************
    *** ***
    ********* ** ***** **

    Re: BBB Complaint ID: ********

    Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by **************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved, and the restriction on *** ****** account has been lifted.

    Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.

    We believe that we handled *** ****** complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ************** as a result of this matter. 

    Best,
    Gemini Trust Company, LLC.


  • Initial Complaint

    Date:12/01/2022

    Type:Product Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    Three weeks ago I opened up an account with Gemini and transferred $1000 to buy Ethereum to make some purchases with it. I waited 3 days for my funds to clear but when I try to withdraw a small amount of my Ethereum I only get a message that their security team needs to review the transaction. I contacted support (ticket ID ******** and was asked to take a selfie with the date and my ticket id written down. After that nothing happened and I've been checking in with support every few days via email and also through their their ******* support account. No response at all. My account is frozen and in the meantime they are advertising through ******* that all crypto is available for withdrawal. It's been a few weeks now.

    Business Response

    Date: 12/15/2022

    ******** *** ****

    *******************************
    **** **************************************************************** **

    Re: BBB Complaint ID: ********

    Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by **************************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved, and the restriction on *** ************ account has been lifted.

    Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.

    We believe that we handled *** ************ complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ************************** as a result of this matter. 

    Best,

    Gemini Trust Company, LLC.


  • Initial Complaint

    Date:11/29/2022

    Type:Billing Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    First, my goal is to return to full functionality of my exchange account and reactivating my credit card for use immediately. On 11/18/2022 I learned that my Gemini exchange account was unable to transfer my crypto assets to approved wallets due to a security hold on my account. I also learned that my new Gemini credit card was suspended, which reportedly was due to the exchange security hold. I completed the required task of uploading a selfie with the date and ticket number: ******* the day I finally received instructions from the ineffective email communication, ********************************* I wrote this support email daily and called daily the Gemini credit card for solutions and instructions on hire to resolve these issues. It has now been over two weeks. This resulted in late charges on scheduled auto withdrawals linked to the credit card, in addition to general nuisance. To protect my money I was able to liquidate my crypto assets, ask but one, and initiate withdrawal of cash. I also reduced security to ease management of my assets to try and avoid more sending actions from Gemini ****** to new crypto wallets. Finally, I paid the small balance on my credit card in good faith hoping this might help clear any suspicions Gemini may have had. Again, my aim is to simply have full function, without nuisance security holds, on my exchange account, AND activation of my Gemini credit card. It is unfortunate users have to go to such extremes to get simple customer service matters resolved. Best,********************* Frustrated Gemini enthusiast

    Business Response

    Date: 12/14/2022

    ******** *** ****


    ********************* *********************
    **** ****************************************************** **


    Re: BBB Complaint ID: ********


    Gemini Trust Company, LLC (Gemini or we) has reviewed the complaint filed by **************. We appreciate this matter being brought to our attention and the opportunity to respond. Please note that this matter has been resolved, and the restriction on *** ****** account and credit card has been lifted.

    Gemini conducts a thorough review of all customer complaints received by our institution and our teams work diligently to address all customer inquiries in a timely manner.

    We believe that we handled *** ****** complaint in a manner consistent with our policies and procedures and our obligations to our customers. Our Organization works everyday to improve our user experience, and strives for all customers to have a positive experience on our platform. We apologize for any inconvenience experienced by ************** as a result of this matter. 

    Best,
    Gemini Trust Company, LLC.

  • Initial Complaint

    Date:11/28/2022

    Type:Billing Issues
    Status:
    Unresolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    My name is ********************************I have all of my life savings through this exchange. This is an earn account and I have an open account with them for over 15 months now. My current balance is ********* dollars. I withdrew my money last 11/14 and only $1 went through, the remaining balance is still pending. It shows that funds are available by 11/22 or earlier. On 11/16 they announced that they will pause all withdrawals because they need to figure out something with ******* (their lending partner). I have reached out to them many times. I kept getting automated response through their email. I have not being able to sleep, I cannot afford to lose my money. I have thought about ending my life a few times the past few days.That's all the money I have under my name, I have worked really hard for that money. I just needed my money back to pay my student loans and bills. I am not sure what I am supposed to do at this point. I am tired of reaching out to different departments.Please I need help

    Business Response

    Date: 12/12/2022



    ******** *** ****
    *******************************
    *************************************************************************************
    Re: BBB Complaint ID: ********
    ************************************** or we) has reviewed the complaint filed by ******************** with the Better Business Bureau and appreciates the opportunity to respond.
    Gemini Earn is a lending program through which customers may choose to lend their digital assets to certain institutional borrowers and earn interest on their loan. Gemini Earn funds are held by *********************** LLC ********* and lent pursuant to a service-level agreement between Earn users and ******** with Gemini acting as an agent for the Earn user. On November 16, 2022, ******* announced that it had paused withdrawals of Earn user funds and as a result would not be able to meet customer redemptions within the service-level agreement timeframe. 

    We are working with the ******* **** towards a resolution aimed at helping Earn users redeem their funds from the Earn program as quickly as possible.

    This does not impact any other Gemini products and services. Gemini is a full-reserve exchange and custodian. All non-Earn customer funds held on the ********************** are held 1:1 and available for withdrawal at any time.  
    We endeavor to provide Earn users including Mr. ************** with more information regarding their Earn withdrawals as we receive it. 

    Best,
    Gemini Trust Company, LLC.

    Customer Answer

    Date: 03/09/2023

    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

    My money has been stuck with them since November. I have all of my life savings there and I dont have access to my money to pay rent or get food.

    All they say is they are working on it.

    Its been over 4 months now and I am not sure what I am supposed to do

     

     

     

     

    In order for the BBB to appropriately process your response, you MUST answer the question above.


    Sincerely,

    *******************************




     

Gemini Trust Company, LLC is NOT a BBB Accredited Business.

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