Gemini receives $100M loan from Winklevoss brothers

According to Bloomberg News, cryptocurrency exchange Gemini has received funding from co-founders Tyler Winklevoss and Cameron Winklevoss. April 10th.

The Winklevoss brothers founded Gemini in 2015. Tyler Winklevoss continues to serve as his CEO of Gemini, while Cameron Winklevoss serves as president of the company.

The latest report shows that the brothers made a $100 million loan to the exchange, based on statements from multiple anonymous individuals.

Two individuals confirmed that the loans had been made, and three individuals said Gemini was unable to secure funding from outside investors. Neither Gemini nor the Winklevoss brothers have confirmed that the deal took place.

Gemini has been adversely affected by various events over the past year. stopped. The service has since been completely discontinued and the process of refunding users is still ongoing.

Gemini also donated $100 million in February to help Gemini Earn users regain their lost funds. Cameron Winklevoss has announced a funding decision, but it is unclear whether the amount was allocated from personal or corporate funds.

The company has also laid off a significant portion of its workforce. The company has cut its workforce by 10%, 15%, 10% in the eight months through January 2023.

A post about Gemini getting a $100 million loan from the Winklevoss brothers first appeared on CryptoSlate.

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