The Winklevoss twins have lent $100 million of their own money to keep their Gemini exchange afloat as venture funding slows
Billionaires Tyler and Cameron Winklevoss have loaned $100 million of their own money to support their Gemini Trust Co. crypto exchange after running into hurdles during the market slump for digital assets,The brothers made the loan recently after Gemini informally sought funding from outside investors without reaching any agreements, sources told Bloomberg, adding that the money will be used to fund operations.
FTX's blow-up left $900 million of funds from Gemini clients stuck on the platform after lending partner Genesis halted withdrawals. ThatThe twins and Silbert in February in principle to resolve the dispute, under which Gemini would contribute as much as $100 million, the report said. The loan to Gemini from the Winklevoss twins won't go toward that agreement.
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