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Business Profile

Cryptocurrency Exchange

Gemini Trust Company, LLC

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Cryptocurrency Exchange.

This business has 3 alerts

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Complaints

Customer Complaints Summary

  • 566 total complaints in the last 3 years.
  • 224 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:12/01/2022

    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,

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




     

  • Initial Complaint

    Date:11/28/2022

    Type:Product 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.
    I invested money with Gemini and have requested to withdraw on funds which I am legally allowed to do and am entitled to. I invested with your Gemini in good faith and submitted a request to withdraw on funds from Gemini Earn on 11/16, see below. I am a small investor and $10,000 to my family is a significant my money. I purposely invested in Earn because it was portrayed as a safer investment and using Gemini reputable firm was a safer bet.Please refund the money as soon as possible, I know to your large investors this might be a drop in the bucket by to a hard-working family man it's a detrimental amount.

    Business Response

    Date: 12/12/2022



    ******** *** ****
    *****************************
    ** ***************
    ************ ** *****
    *** *** ********* *** ********
    ************************************** 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.

    Customer Answer

    Date: 02/24/2023

    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:

    Gemini acted as a fiduciary on its investors behalf. Gemini advertised it's Gemini earn account as a safer investment. Gemini is under investigation by the SEC for fraud and deceptive practices. They owe over $16,000 which I invested in good faith with Gemini. I would like to have all my principal back and interest.

     

     

     

     

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


    Sincerely,

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




     

  • Initial Complaint

    Date:11/21/2022

    Type:Product 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.
    On 9/9/2022 Gemini received my ach deposit of $5000.00 I was told there is a security hold on the funds and they would be released on 9/12 I attempted to withdraw my funds on 9/12 but Gemini stated that I needed my id verified which I uploaded and sent to them on 9/13 they told me they received the upload and they would get back to me once they hear from there team.This is the last correspondence I got from Gemini I have sent several emails inquiring what is the problem and have simply been ignored no one from Gemini will respond to any of my emails.now my account is down to $4000.00 and I can't be get my funds it's been over 60 days and not one word from Gemini they won't respond at all to my emails.

    Business Response

    Date: 12/02/2022



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


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


    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.


    Customer Answer

    Date: 12/14/2022

    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:11/21/2022

    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.
    Gemini provided extremely misleading information to users by saying they vetted ******* and making it seem less of a risk than it really was. Have over 75% of my crypto held up in limbo after requesting redemption, this is the majority of my extra funds and will be a major loss that I did not sign up for.

    Business Response

    Date: 12/05/2022

    ******** ** ****
    ***********************
    *** ********* **** ***
    ************** ** *****
    Re: BBB Complaint ID:
    ************************************** or we) has reviewed the complaint filed by ************** with the REGULATOR 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:11/17/2022

    Type:Customer Service 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.
    Do not refer to your TOS on this I would like a personal email. I withdrew funds from gemeni earn on 11/13/2022 which is like a saving account. I would like those funds to my account. no excuses or third party issue, since today is 11/16/2022 and your partner ******* claim they were suspend withdraw.My withdraw was made 11/13/2022 , 3 days prior.In either case. you need to make this right, and do not goto your terms of service issue. ETH redemption Nov 13, 2022 ********** ETH $64.5 MANA redemption Nov 13, 2022 ************ MANA $314.32 USD MKR redemption Nov 13, 2022 ********* MKR $494.35 USD GRT redemption Nov 13, 2022 ************* GRT $79.55 USD All total less than ***** USD. do the right thing, thats what the founders motto is. do not disappoint .

    Business Response

    Date: 12/01/2022


    ******** ** ****
    ******************
    ** *****************
    ********** ** *****
    Re: BBB Complaint ID: ********
    ************************************** or we) has reviewed the complaint filed by *** *** with the REGULATOR 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:11/16/2022

    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.
    I have been a member of Gemini Crypto exchange since 2018. I have been fully verified on the exchange with no issues. I tried to withdraw funds and was met with a security hold. I reached out to customer service and days later received support Ticket ID: ******* was advised I needed to upload a picture of my face with Driver License, Date, and ticket ID. I did all of this since then I have heard 0 response its been a week now. I have sent ***** emails, reached out to reddit gemini support, ******* support for them and my account was still security blocked. I have since ACH all funds from account and funds are in a pending status still. This company is holding us citizen funds hostage with 0 communication.

    Business Response

    Date: 11/29/2022

    ******** *** ****
    *************************
    **** ***********
    ********* ** *****
    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:11/16/2022

    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.
    My funds have been frozen for weeks without cause or communication from Gemini. On 10/20/22 I received an email from Gemini (#*******) asking for documentation to verify my source of wealth. I provided them with a copy of my tax return. Then they asked for a selfie and ID verification, which I also provided. They asked more questions about my account, which I responded to until support completely stopped responding to me on 11/03/22. As of today, my account is still locked with "Account Hold: Please respond to our latest inquiry". I created a new support ticket on 11/09/22 (#*******), again they asked for selfie and ID verification which I provided. This ticket was allegedly escalated and again, I have not received a response, after following up 5 times now. I am beyond words on how abysmal this experience has been for me. If this BBB complaint does not lead to me having access to my funds, I will be making complaints to the New ********************* of ********* Services, the SEC, and pursuing all further action until this is resolved.

    Business Response

    Date: 11/29/2022

    ******** *** ****
    *************************
    ***** **********
    ******* ** *****
    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 ********************** has requested that her Gemini account be closed.
    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.

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

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