Information related to Gemini’s policy on an upcoming Chain Split

UPDATED 7/26/17 3:30 PM EDT.

A number of customers have asked how Gemini will respond if the Bitcoin network splits into two separate Blockchains (often called a “fork”) sometime soon. Our highest priority at Gemini — more important even than keeping our exchange open — is ensuring that all of our customers’ asset balances are held securely.

We know that some of our customers have strong opinions on how Bitcoin should evolve. At Gemini, however, it’s not our place to drive the discussion. In the event of a chain split, we will carefully consider our response and how to move forward. We understand that our customers have diverse opinions on this subject, and we will do our best to incorporate your suggestions.

We certainly prefer and encourage a “clean” chain split, no matter which side of the scaling debate wins, but we are preparing for a variety of outcomes. In the event that we detect a chain split or anticipate an imminent chain split, we will temporarily suspend BTC deposits and withdrawals. During that time, we will evaluate our response and post updates here on this blog. We will endeavor to resume deposits and withdrawals as soon as we’re safely able to do so, but that process may take up to a week to complete.

However, as an indication of what we are currently planning:

We understand that the policies listed above leave quite a lot to Gemini’s discretion. We would rather have clearly defined policies in place right now; however, it’s unclear what will happen on the Blockchain in the coming days, weeks, and months, and we would much rather play it safe than make hasty, ill-informed decisions and risk mismanaging your funds. As soon as we gain further insight on the situation, we will make additional blog posts to better detail how your funds on Gemini will be secured.

Onward and upward,

Team Gemini

Join the Discussion
  • Justin Time

    “We certainly prefer and encourage a “clean” fork, no matter which side of the scaling debate wins…”

    I couldn’t agree more. Thank you for the update.

  • Citizen451

    Thank you for the clarification. It is a reasonable and safe position you take on behalf of your customers and aligns with your fiduciary duty.

  • Devon Dyrdahl

    I referred a good friend to this website and they have remained unverified for 2 weeks while the price climbed 25% please get his resolved

    • Devon Dyrdahl

      they did resolve shortly after this

  • Charkenas

    Gemini not sending SMS code. Please resolve.

  • SubParSauce

    It’s been over 2 weeks now and 20 emails to customer support, family and friends have signed up after I told them about ETH, one person in particular was signed up and verified in three days. Over two weeks…and three days, look playing darts is fun guys but can you please not use it as your customer service method of “who gets verified today”.

  • Duncan Jones

    is there a way for me to claim a coin from Bitcoin Fork when I hold Bitcoin in my Gemini account at the time of the fork?

  • ash

    Bunch of thieves keeping everyone’s BTG. You have a fiduciary duty to us. What you’ve done is criminal.