Winklevoss Twins Give $100M Loan to Gemini

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Tyler and Cameron Winklevoss have reportedly loaned Gemini trading platform $100 million, according to Bloomberg sources.

This was after the company had been unsuccessful in its attempts to find external financing. In November 2022, Gemini suspended withdrawals from the Earn Income Program due to $900 million debt owed to its partner crypto lender Genesis Global Capital.

Cameron Winklevoss then released an open letter to Digital Currency Group (DCG) founder and CEO Barry Silbert, demanding an immediate $900 million settlement.

When the deadline passed, Winklevoss called for Silbert’s resignation and Genesis filed for bankruptcy.

By February, the two parties had agreed to a plan to return assets to Gemini users, which would include a $100 million allocation from Genesis.