FDIC Insurance

Each GUSD corresponds to a U.S. dollar that is held by Gemini as one of the following types of assets:

1. Deposits in U.S. Federal Deposit Insurance Corporation ("FDIC")-insured banks

2. Money market funds, invested only in U.S. Treasury obligations

3. U.S. Treasury obligations

The cash portion of these GUSD reserves, which may be held at State Street Bank and Trust Company, Goldman Sachs, or Fidelity, may be eligible for FDIC “pass-through” insurance for Gemini customers in the event that the bank holding such U.S. dollar cash deposits becomes subject to resolution or similar proceedings by the FDIC.

Monthly reserve asset attestations

From day one, Gemini has prioritized the security of your assets. We never have and never will compromise on that. Monthly reserve asset attestations are one way to maintain this promise – here is an overview of how GUSD is examined each month.

1. Gemini makes an assertion that, as of a specific date and time, we’re holding an amount of USD in reserve that matches the amount of GUSD in circulation. That is Section II of the reports listed below.

2. BPM, an independent accounting firm, performs an examination and collects evidence to test whether that assertion is accurate.

3. BPM issues an opinion that says "the assertion that Gemini made in Section II is fairly stated."