The Winklevoss twins are the company’s majority shareholders. Since its inception in 2014, the crypto exchange has added a payment app, an interest-paying savings account, a trading platform, and a credit card. Gemini supports trading in more than 120 cryptocurrencies. Their stablecoin, the Gemini dollar, is linked to the US Dollar. Interestingly the crypto exchange offers a tiered service, separate for casual investors and dedicated traders. is a privately owned cryptocurrency exchange facilitating the buying, selling, & trading of more than 60 cryptocurrencies. A Brief About Gemini Crypto Exchange and Winklevoss Twinsįounded in 2014 by the Winklevoss twins, Gemini Trust Co. Notably, no data is available to relate the $100 Million loan and $100 Million Earn commitment.
At the same time, Gemini is said to contribute around $100 million to Earn users. Genesis’ attorney said the company had made a pact with the creditors. While Genesis was recovering from bankruptcy, DCG agreed to a settlement in February 2023 to sell its subsidiary, including its crypto trading business and lending arm. This step inadvertently locked customers’ money in Gemini’s Earn yield product. Genesis is owned by the Digital Currency Group (DCG), and after the FTX saga was unveiled, they halted the withdrawals. This $100 million loan is crucial as it is the same amount Gemini promised to give a few of its customers in the Genesis bankruptcy case. However, Gemini’s spokesperson did not respond to a media request for comment. Tyler and Cameron provided this loan to their crypto platform after trying to raise money from outside. Media reported that the Winklevoss twins poured $100 Million in Gemini to fight the market plunge. 2 SEC had sued Gemini Earn program regarding unregistered securities.1 Winklevoss twins tried raising money from outside but ended up loaning $100M to Gemini.
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