Winklevoss Twins Lend $100 Million to Their Gemini Crypto Platform
- The twins made the loan after trying to raise external funds
- Gemini suffered several setbacks during the crypto downturn
Tyler and Cameron Winklevoss.
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Billionaires Tyler and Cameron Winklevoss dipped into their own pockets to support their crypto exchange Gemini Trust Co., which has faced numerous setbacks during the yearlong market downturn for digital assets.
The twins made a $100 million loan to Gemini recently, according to two people familiar with the matter, who did not wish to be identified discussing private information. The move came after Gemini had informally sought funding from outside investors in recent months without coming to any agreements, according to three people. Gemini and the Winklevoss twins didn’t respond to requests for comment.