Score Breakdown by Category

How Gemini's terms rate across my evaluation categories.

💰 Fund & Account Control (30%) 45/100

Why this score: Gemini's NY trust company status provides some protection: assets in custody accounts are segregated per Section 4. However, the Gemini Earn collapse (Genesis bankruptcy) showed that product-specific terms can expose users to significant counterparty risk. Standard exchange accounts are better protected than lending products.

Industry comparison: Kraken: 50/100 (straightforward custody) | Coinbase: 30/100 (indefinite compliance holds) | Binance.US: 25/100 (regulatory uncertainty) | Category avg: 38/100

⚖ Dispute Resolution (20%) 40/100

Why this score: Gemini mandates AAA arbitration with class action waiver (User Agreement Section 16). Despite NY regulation, users cannot sue in court. The NY AG lawsuit over Gemini Earn showed that even regulatory oversight doesn't prevent consumer harm from product-specific terms.

Industry comparison: Kraken: 45/100 (UK arbitration option) | Coinbase: 35/100 (strict arbitration) | Binance.US: 30/100 (limited recourse) | Category avg: 38/100

👁 Transparency & Notice (20%) 55/100

Why this score: As a NY BitLicense holder, Gemini must meet NYDFS disclosure requirements. The core User Agreement is relatively clear. However, multi-product complexity (Exchange, ActiveTrader, Credit Card, Earn) means users must read multiple separate terms. Gemini Earn's risks were not prominently disclosed despite being critical.

Industry comparison: Kraken: 50/100 (unified terms) | Coinbase: 45/100 (public company disclosure) | Binance.US: 35/100 (opaque terms) | Category avg: 46/100

🔒 Data & Privacy Rights (15%) 45/100

Why this score: Gemini operates under NY trust company data handling requirements, providing some baseline protections. Transaction history export is available. However, blockchain analytics partnerships and law enforcement data sharing are standard. The Privacy Policy is CCPA/GDPR compliant.

Industry comparison: Kraken: 48/100 (clear privacy terms) | Coinbase: 40/100 (extensive analytics sharing) | Binance.US: 35/100 (data handling concerns) | Category avg: 42/100

🚪 Exit & Withdrawal Rights (15%) 40/100

Why this score: Standard withdrawal processing applies for custody accounts. Gemini Earn users faced indefinite fund lockups during the Genesis bankruptcy—some waited 18+ months for partial recovery. Trust company structure means compliance reviews can delay withdrawals. No early termination fees for standard accounts.

Industry comparison: Kraken: 55/100 (faster processing) | Coinbase: 45/100 (30-day holds) | Binance.US: 30/100 (access restrictions) | Category avg: 43/100

Compare With Other Exchanges

⚠ Gotcha Clauses I Check First

These provisions have caused significant issues for Gemini users.

Earn Program Lessons

High Risk

The Gemini Earn program collapse (Genesis bankruptcy) showed that yield-generating products have separate, riskier terms. Users lost access to billions in crypto that was lent to third parties.

"Digital assets deposited in Gemini Earn are not held in custody by Gemini...You bear the counterparty risk." Gemini Earn Terms (now discontinued)

Class Action Waiver

High Risk

Gemini requires binding arbitration with a class action waiver. Even when issues affect thousands of users, each must pursue individual claims.

"You and Gemini agree to waive the right to a jury trial and to bring or participate in a class action, class arbitration, or other representative action." Gemini User Agreement

NY Regulatory Framework

Medium Risk

Operating under NY BitLicense means stricter compliance requirements. While this provides some protections, it also means more aggressive KYC and potential access restrictions.

"Gemini operates as a New York-licensed trust company subject to NYDFS regulations." Gemini User Agreement

Multi-Product Complexity

Medium Risk

Gemini offers many products (Exchange, ActiveTrader, Credit Card, etc.) each with separate terms. Protections vary significantly between products.

"Each Gemini product is governed by its own terms and conditions in addition to this Agreement." Gemini User Agreement

Analysis

"Gemini's positioning as the 'regulated' crypto exchange has both benefits and drawbacks. The NY trust company structure provides some legitimate protections—assets in custody accounts are better protected than on less regulated platforms.

However, the Gemini Earn debacle was a wake-up call. Users were led to believe they were earning yield safely when in reality their assets were being lent to Genesis with significant counterparty risk. The $1+ billion in losses showed that product-specific terms matter enormously.

For basic exchange services, Gemini is reasonable. But I caution against any yield-generating or lending products on any platform. The core lesson: if you're getting yield, you're taking risk, regardless of how 'safe' the platform appears."

Recent Gemini News & Developments

Legal and regulatory developments affecting Gemini users.

Feb 2024

Gemini Terms of Service Review

Score Breakdown by Category

Compare With Other Exchanges

⚠ Gemini Issues?

⚠ Gotcha Clauses I Check First

Earn Program Lessons

Class Action Waiver

NY Regulatory Framework

Multi-Product Complexity

Analysis

Recent Gemini News & Developments

Genesis Bankruptcy Plan Approved

NY AG Lawsuit Over Gemini Earn

SEC Settlement Over Earn Program

Gemini Refocuses on Core Exchange

Need Help With Gemini?

Schedule a Consultation

Gemini Terms of Service Review

Score Breakdown by Category

Compare With Other Exchanges

⚠ Gemini Issues?

Related Resources

⚠ Gotcha Clauses I Check First

Earn Program Lessons

Class Action Waiver

NY Regulatory Framework

Multi-Product Complexity

Analysis

Recent Gemini News & Developments

Genesis Bankruptcy Plan Approved

NY AG Lawsuit Over Gemini Earn

SEC Settlement Over Earn Program

Gemini Refocuses on Core Exchange

Need Help With Gemini?

Schedule a Consultation