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{{short description|Digital currency exchange and custodian}}
{{short description|Digital currency exchange and custodian}}
{{Other uses|Gemini (disambiguation)}}
{{Other uses|Gemini (disambiguation)}}
{{Advert|date=June 2021}}
{{Infobox exchange
{{Infobox exchange
|name = Gemini
|name = Gemini
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|image =
|image =
|type = [[Cryptocurrency exchange]]
|type = [[Cryptocurrency exchange]]
|city = [[New York City]], [[New York (state)|New York]]
|city = [[New York City|New York]]
|country = [[United States]]
|country = U.S.
| founder = Cameron and Tyler Winklevoss
|coor = {{coord|40.749256|-73.97584|type:landmark}}<ref name="Bloomberg">{{Cite web |title=Company Overview of Gemini Trust Co LLC|url= https://www.bloomberg.com/profile/company/1732972D:US|access-date=October 16, 2022 |work=Bloomberg}}</ref>
|coor = {{coord|40.749256|-73.97584|type:landmark}}<ref name="Bloomberg">{{Cite web |title=Company Overview of Gemini Trust Co LLC|url= https://www.bloomberg.com/profile/company/1732972D:US|access-date=October 16, 2022 |work=Bloomberg}}</ref>
|foundation = {{start date and age|2015|10|25}}
|foundation = {{start date and age|2014|10|25}}
|closed =
|closed =
|owner = Gemini Trust Company, LLC
|owner = Gemini Trust Company, LLC
|key_people = [[Cameron Winklevoss]] {{small|([[Co-founder]])}}<br>[[Tyler Winklevoss]] {{small|([[Co-founder]])}}
|key_people = [[Cameron Winklevoss]] {{small|([[Co-founder]])}}<br>[[Tyler Winklevoss]] {{small|([[Co-founder]])}}
|listings =
|listings =
|mcap =
|mcap =
|volume =
|volume =
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}}
}}


'''Gemini Trust Company, LLC''' ('''Gemini''') is a [[cryptocurrency exchange]] and custodian that allows customers to buy, sell, and store digital assets. It was founded in 2014 by [[Cameron Winklevoss|Cameron]] and [[Tyler Winklevoss]].<ref>{{cite magazine|url=https://www.wired.com/2015/10/winklevoss-bitcoin-exchange-digital-currency-grows|access-date=October 17, 2018|title=With Winklevoss Bitcoin Exchange, Digital Currency Grows Up|magazine=Wired|last=Metz|first=Cade}}</ref><ref>{{cite web|url=http://fortune.com/2015/10/05/gemini-winklevoss-bitcoin/|title=Winklevoss Brothers Get License for Gemini Bitcoin Exchange – Fortune|author=Daniel Roberts|date=October 5, 2015|work=Fortune|access-date=October 17, 2018}}</ref><ref>{{cite web|url=https://blogs.wsj.com/moneybeat/2015/10/05/bitbeat-winklevoss-twins-gemini-exchange-gets-trust-license/|title=Winklevoss Twins' Gemini Exchange Gets Trust License – BitBeat|author=Paul Vigna|work=[[WSJ]] blog|access-date=October 17, 2018}}</ref> Currently, it operates in the [[United States]], [[Canada]], the [[United Kingdom]], [[South Korea]], [[Hong Kong]], and [[Singapore]].<ref>{{Cite news|url=https://www.cnbc.com/2016/06/21/winkelvoss-twins-are-expanding-their-gemini-bitcoin-exchange-outside-of-the-us.html|title=The Winklevoss twins are launching their bitcoin exchange outside of the US|last=Hungerford|first=Arjun Kharpal, Nancy|date=June 21, 2016|work=CNBC|access-date=October 19, 2017}}</ref>
'''Gemini Trust Company, LLC''' ('''Gemini''') is an American [[cryptocurrency exchange]] and [[custodian bank]]. It was founded in 2014 by [[Cameron Winklevoss|Cameron]] and [[Tyler Winklevoss]].<ref>{{cite magazine|url=https://www.wired.com/2015/10/winklevoss-bitcoin-exchange-digital-currency-grows|access-date=October 17, 2018|title=With Winklevoss Bitcoin Exchange, Digital Currency Grows Up|magazine=Wired|last=Metz|first=Cade}}</ref><ref>{{cite web|url=http://fortune.com/2015/10/05/gemini-winklevoss-bitcoin/|title=Winklevoss Brothers Get License for Gemini Bitcoin Exchange – Fortune|author=Daniel Roberts|date=October 5, 2015|work=Fortune|access-date=October 17, 2018}}</ref><ref>{{cite web|url=https://blogs.wsj.com/moneybeat/2015/10/05/bitbeat-winklevoss-twins-gemini-exchange-gets-trust-license/|title=Winklevoss Twins' Gemini Exchange Gets Trust License – BitBeat|author=Paul Vigna|work=[[WSJ]] blog|access-date=October 17, 2018}}</ref>

In 2023, the company, along with two others, was sued by the New York attorney general [[Letitia James]] under allegations that it had "defrauded" investors by exposing them to undue risk.<ref>{{Cite web |date=2023-10-20 |title=Winklevoss Twins' crypto firm, others face $1bn fraud lawsuit for allegedly lying to over 230,000 investors |url=https://www.hindustantimes.com/world-news/us-news/winklevoss-twins-crypto-firm-others-face-1bn-fraud-lawsuit-for-allegedly-lying-to-more-than-230-000-investors-101697791403764.html |access-date=2023-10-21 |website=Hindustan Times |language=en}}</ref><ref>{{Cite news |last=Livni |first=Ephrat |date=2023-10-19 |title=New York Attorney General Sues Crypto Firms in $1 Billion Fraud Case |language=en-US |work=The New York Times |url=https://www.nytimes.com/2023/10/19/business/cryptocurrency-lawsuit-new-york-winklevoss.html |access-date=2023-10-21 |issn=0362-4331}}</ref>


== History ==
== History ==
Tyler and Cameron Winklevoss announced Gemini in June 2013<ref>{{cite news |url=https://dealbook.nytimes.com/2013/07/01/first-name-in-the-first-fund-for-bitcoins-winklevoss/?_r=0 |title=Winklevoss Twins Plan First Fund for Bitcoins |work=Article |publisher=New York Times |date=July 1, 2017|author=Nathaniel Popper |author2=Peter Lattman|access-date=July 1, 2013 }}</ref> and the company went live on October 25, 2015. Gemini began in order to facilitate the purchase and storage of [[Bitcoin]] through a complex system of [[Public-key cryptography|private keys]] and password protected environments. Gemini holds a Limited Purpose Trust Charter from the [[New York State Department of Financial Services|New York Department of Financial Services]] that was granted in October 2015.<ref>{{Cite web |title=Virtual Currency Businesses |url=https://www.dfs.ny.gov/virtual_currency_businesses |access-date=July 22, 2022 |website=New York Department of Financial Services |language=en}}</ref> Gemini began adding to the financial services it offers thereafter, some of which include [[Financial Information eXchange|FIX]] and [[Application programming interface|API]] support.
Tyler and Cameron Winklevoss announced Gemini in June 2013<ref>{{cite news |url=https://dealbook.nytimes.com/2013/07/01/first-name-in-the-first-fund-for-bitcoins-winklevoss/?_r=0 |title=Winklevoss Twins Plan First Fund for Bitcoins |work=Article |publisher=New York Times |date=July 1, 2017|author=Nathaniel Popper |author2=Peter Lattman|access-date=July 1, 2013 }}</ref> and the company went live on October 25, 2015. Gemini began to facilitate the purchase and storage of [[Bitcoin]] through a complex system of [[Public-key cryptography|private keys]] and password-protected environments. Gemini holds a Limited Purpose Trust Charter from the [[New York State Department of Financial Services|New York Department of Financial Services]] granted in October 2015.<ref>{{Cite web |title=Virtual Currency Businesses |url=https://www.dfs.ny.gov/virtual_currency_businesses |access-date=July 22, 2022 |website=New York Department of Financial Services |language=en}}</ref> Gemini began adding to the financial services<ref>{{Cite web |last=Gapusan |first=Jeff |title=Bitcoin 2024: When Rage Became The Machine |url=https://www.forbes.com/sites/digital-assets/2024/07/31/bitcoin-2024-when-rage-became-the-machine/ |access-date=2024-10-07 |website=Forbes |language=en}}</ref> it offers thereafter, some of which include [[Financial Information eXchange|FIX]] and [[Application programming interface|API]] support.


On May 5, 2016, Governor [[Andrew Cuomo]] of New York State announced the approval of Gemini as the first [[BitLicense|licensed]] [[Ethereum]] [[cryptocurrency exchange|exchange]] based in the United States.<ref>{{Cite news|url=https://www.governor.ny.gov/news/governor-cuomo-announces-approval-first-us-based-ethereum-exchange-created-and-operated-new|title=Governor Cuomo Announces Approval of First U.S.-Based Ethereum Exchange, Created and Operated In New York|date=May 5, 2016|work=Governor Andrew M. Cuomo|access-date=October 17, 2018|language=en}}</ref> Additionally, in 2016, Gemini announced it would allow users to withdraw [[Ethereum Classic]] (ETC) from the exchange, following a [[fork (blockchain)|hard fork]] in [[Ethereum|Ethereum's]] code.<ref>{{Cite web|url=https://medium.com/gemini/update-2-ether-classic-withdrawals-ebf3b083003e|title=UPDATE #2: Ether Classic Withdrawals|last=Winklevoss|first=Cameron|date=August 12, 2016|website=Gemini|access-date=June 6, 2018}}</ref>
On May 5, 2016, Governor [[Andrew Cuomo]] of New York State announced the approval of Gemini as the first [[BitLicense|licensed]] [[Ethereum]] [[cryptocurrency exchange|exchange]] based in the United States.<ref>{{Cite news|url=https://www.governor.ny.gov/news/governor-cuomo-announces-approval-first-us-based-ethereum-exchange-created-and-operated-new|title=Governor Cuomo Announces Approval of First U.S.-Based Ethereum Exchange, Created and Operated In New York|date=May 5, 2016|work=Governor Andrew M. Cuomo|access-date=October 17, 2018|language=en}}</ref> Additionally, in 2016, Gemini announced it would allow users to withdraw [[Ethereum Classic]] (ETC) from the exchange, following a [[fork (blockchain)|hard fork]] in [[Ethereum|Ethereum's]] code.<ref>{{Cite web|url=https://medium.com/gemini/update-2-ether-classic-withdrawals-ebf3b083003e|title=UPDATE #2: Ether Classic Withdrawals|last=Winklevoss|first=Cameron|date=August 12, 2016|website=Gemini|access-date=June 6, 2018}}</ref>


In October 2017, Gemini announced that it was allowing registered users to withdraw [[Bitcoin Cash]] from the exchange provided they had a balance available on the exchange prior to the Bitcoin hard fork in August 2017.<ref name="Bitcoin Cash">{{cite news |url=https://medium.com/gemini/bitcoin-cash-bch-withdrawals-76a9ae5d2c15 |title=Bitcoin Cash (BCH) Withdrawals |work=Article |publisher=Gemini Exchange |date=October 7, 2017 }}</ref>
In October 2017, Gemini announced that it allowed registered users to withdraw [[Bitcoin Cash]] from the exchange provided they had a balance available on the exchange before the Bitcoin hard fork in August 2017.<ref name="Bitcoin Cash">{{cite news |url=https://medium.com/gemini/bitcoin-cash-bch-withdrawals-76a9ae5d2c15 |title=Bitcoin Cash (BCH) Withdrawals |work=Article |publisher=Gemini Exchange |date=October 7, 2017 }}</ref>


In December 2017, the [[Chicago Board Options Exchange]] (CBOE) began to use Gemini to settle its Bitcoin [[futures contract|futures]] contracts.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2017-12-09/bitcoin-futures-trading-brings-crypto-into-mainstream-finance |title=Bitcoin Futures Trading Brings Crypto Into Mainstream |work=Article |publisher=Bloomberg |date=December 9, 2017|author=Rob Urban |author2=Camila Russo|access-date=October 17, 2018 }}</ref> CBOE partnered with Gemini so as to use Gemini's dollar denominated auction price for these contracts. In March 2019, CBOE announced they would stop listing Bitcoin futures.<ref>{{Cite web |last=Rooney |first=Kate |date=March 18, 2019 |title=Cboe to stop listing bitcoin futures as interest in crypto trading cools |url=https://www.cnbc.com/2019/03/18/cboe-to-stop-listing-bitcoin-futures-as-interest-in-crypto-trading-cools.html |access-date=July 22, 2022 |website=CNBC |language=en}}</ref>
In December 2017, the [[Chicago Board Options Exchange]] (CBOE) began to use Gemini to settle its Bitcoin [[futures contract|futures]] contracts.<ref>{{cite news |url=https://www.bloomberg.com/news/articles/2017-12-09/bitcoin-futures-trading-brings-crypto-into-mainstream-finance |title=Bitcoin Futures Trading Brings Crypto Into Mainstream |work=Article |publisher=Bloomberg |date=December 9, 2017|author=Rob Urban |author2=Camila Russo|access-date=October 17, 2018 }}</ref> CBOE partnered with Gemini so as to use Gemini's dollar denominated auction price for these contracts. In March 2019, CBOE announced they would stop listing Bitcoin futures.<ref>{{Cite web |last=Rooney |first=Kate |date=March 18, 2019 |title=Cboe to stop listing bitcoin futures as interest in crypto trading cools |url=https://www.cnbc.com/2019/03/18/cboe-to-stop-listing-bitcoin-futures-as-interest-in-crypto-trading-cools.html |access-date=July 22, 2022 |website=CNBC |language=en}}</ref>


In April 2018, Gemini began offering "Block Trading". Block Trading enables Gemini users to buy and sell large quantities of digital assets outside of Gemini's continuous order books, creating an additional liquidity mechanism when trading in greater size.<ref name="Block Trading">{{cite news |url=https://www.bloomberg.com/news/articles/2018-04-09/winklevoss-s-gemini-to-offer-cryptocurrency-block-trading |title=Winklevosses' Gemini to Offer Cryptocurrency Block Trading |work=Article |publisher=Bloomberg |date=April 9, 2018|author1=Olga Kharif |author2=Matthew Leising|access-date=October 17, 2018 }}</ref> Also in April, Gemini began to utilize [[NASDAQ]]'s SMARTS technology to monitor trades and combat fraudulent activity and [[market manipulation|price manipulation]] on its exchange.<ref name="NASDAQ">{{cite news |url=https://www.bloomberg.com/news/articles/2018-04-25/winklevoss-twins-hire-nasdaq-to-keep-cheaters-off-crypto-market |title=Winklevoss Twins Hire Nasdaq to Watch for Crypto Cheaters |work=Article |publisher=Bloomberg |date=April 25, 2018|author1=Matthew Leising |author2=Nick Baker|access-date=October 17, 2018 }}</ref> On May 14, 2018, the New York Department of Financial Services announced it had approved Gemini to offer [[Zcash]] (ZEC) on their platform, becoming the first licensed exchange to offer trading and custody services for it.<ref>{{Cite web|url=https://www.dfs.ny.gov/about/press/pr1805141.htm|title=Press Release - May 14, 2018|website=New York State Department of Financial Services|language=en-US|access-date=June 6, 2018}}</ref> On September 10, 2018, Gemini had received regulatory approval for a new product, the Gemini dollar (GUSD) from the NYDFS and would launch trading of the [[cryptocurrency|coin]] that same day. Gemini described the product as a [[stablecoin]] which maintains a 1-to-1 [[currency peg|peg]] with the [[United States dollar|American dollar]].<ref>{{Cite web|url=https://www.bloomberg.com/news/articles/2018-09-10/controversial-crypto-coin-tether-to-get-regulated-competitors|title=Terms of Service Violation|website=bloomberg|access-date=October 17, 2018|author1=Annie Massa |author2=Matthew Leising}}</ref><ref>{{Cite web|url=https://www.dfs.ny.gov/about/press/pr1809101.htm|title=September 10, 2018: DFS Continues to Foster Responsible Growth in New York's|website=New York State Department of Financial Services|language=en-US|access-date=September 26, 2018|archive-date=September 11, 2018|archive-url=https://web.archive.org/web/20180911044842/https://www.dfs.ny.gov/about/press/pr1809101.htm|url-status=dead}}</ref> On October 3, 2018, it was announced that Gemini had obtained digital asset [[insurance in the United States|insurance]] covering [[cryptocurrency|tokens and coins]] held on its exchange. The insurance had been [[insurance broker|brokered]] by [[Aon (company)|Aon]], a London based public [[risk assessment|risk consulting]] company, and underwritten by a consortium of global [[underwriting|underwriters]].<ref>{{Cite web|author=Massa|first=Annie|date=October 3, 2018|title=Winklevoss's Gemini Obtains Insurance for Crypto-Assets|url=https://www.bloomberg.com/news/articles/2018-10-03/winklevoss-s-gemini-obtains-crypto-asset-insurance-through-aon|access-date=October 17, 2018|website=Bloomberg.com}}</ref>
In April 2018, Gemini began offering "Block Trading". Block Trading enables Gemini users to buy and sell large quantities of digital assets outside of Gemini's continuous order books, creating an additional liquidity mechanism when trading in greater size.<ref name="Block Trading">{{cite news |url=https://www.bloomberg.com/news/articles/2018-04-09/winklevoss-s-gemini-to-offer-cryptocurrency-block-trading |title=Winklevosses' Gemini to Offer Cryptocurrency Block Trading |work=Article |publisher=Bloomberg |date=April 9, 2018|author1=Olga Kharif |author2=Matthew Leising|access-date=October 17, 2018 }}</ref> Also in April, Gemini began to utilize [[NASDAQ]]'s SMARTS technology to monitor trades and combat fraudulent activity and [[market manipulation|price manipulation]] on its exchange.<ref name="NASDAQ">{{cite news |url=https://www.bloomberg.com/news/articles/2018-04-25/winklevoss-twins-hire-nasdaq-to-keep-cheaters-off-crypto-market |title=Winklevoss Twins Hire Nasdaq to Watch for Crypto Cheaters |work=Article |publisher=Bloomberg |date=April 25, 2018|author1=Matthew Leising |author2=Nick Baker|access-date=October 17, 2018 }}</ref> On May 14, 2018, the New York Department of Financial Services announced it had approved Gemini to offer [[Zcash]] (ZEC) on their platform, becoming the first licensed exchange to offer trading and custody services for it.<ref>{{Cite web|url=https://www.dfs.ny.gov/about/press/pr1805141.htm|title=Press Release - May 14, 2018|website=New York State Department of Financial Services|language=en-US|access-date=June 6, 2018}}</ref> On September 10, 2018, Gemini had received regulatory approval for a new product, the Gemini dollar (GUSD) from the NYDFS and would launch trading of the [[cryptocurrency|coin]] that same day. Gemini described the product as a [[stablecoin]] which maintains a 1-to-1 [[currency peg|peg]] with the [[United States dollar|American dollar]].<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2018-09-10/controversial-crypto-coin-tether-to-get-regulated-competitors|title=Terms of Service Violation|website=bloomberg|access-date=October 17, 2018|author1=Annie Massa |author2=Matthew Leising|date=September 10, 2018 }}</ref><ref>{{Cite web|url=https://www.dfs.ny.gov/about/press/pr1809101.htm|title=September 10, 2018: DFS Continues to Foster Responsible Growth in New York's|website=New York State Department of Financial Services|language=en-US|access-date=September 26, 2018|archive-date=September 11, 2018|archive-url=https://web.archive.org/web/20180911044842/https://www.dfs.ny.gov/about/press/pr1809101.htm|url-status=dead}}</ref> On October 3, 2018, it was announced that Gemini had obtained digital asset [[insurance in the United States|insurance]] covering [[cryptocurrency|tokens and coins]] held on its exchange. The insurance had been [[insurance broker|brokered]] by [[Aon (company)|Aon]], a London-based public [[risk assessment|risk consulting]] company, and underwritten by a consortium of global [[underwriting|underwriters]].<ref>{{Cite web|author=Massa|first=Annie|date=October 3, 2018|title=Winklevoss's Gemini Obtains Insurance for Crypto-Assets|url=https://www.bloomberg.com/news/articles/2018-10-03/winklevoss-s-gemini-obtains-crypto-asset-insurance-through-aon|access-date=October 17, 2018|website=Bloomberg.com}}</ref>

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In November 2019, the Gemini Trust Co. bought ''[[Nifty Gateway]]'' for an undisclosed sum. Nifty Gateway is a marketplace for [[Non-fungible token|NFTs]].<ref name="Bloomberg 2019-11-19">{{cite news |url=https://www.bloomberg.com/news/articles/2019-11-19/winklevoss-brothers-buy-a-startup-founded-by-identical-twins |title=Winklevoss Brothers Buy a Startup Founded by Identical Twins |work=Bloomberg |date=November 19, 2019 |accessdate=April 7, 2021 }}</ref><ref name="Fox Business 2021-04-05">{{cite news |url=https://www.foxbusiness.com/technology/winklevoss-twins-slam-facebook-as-their-crypto-business-booms |title=Winklevoss twins slam Facebook as their crypto business booms |work=Fox Business |date=April 5, 2021 |accessdate=April 7, 2021 }}</ref> The goal of the NFT marketplace is to be a custodian for various assets, including property deeds, passports, commodities, collectibles, videogame characters, movies, music and event tickets.<ref name="Forbes 2021-04-05">{{cite news |url=https://www.forbes.com/sites/michaeldelcastillo/2021/04/05/revenge-of-the-winklevii-facebook-winklevoss-bitcoin-nft-billionaire-revenge |title=Revenge Of The Winklevii |work=Forbes |date=April 5, 2021 |accessdate=April 7, 2021 }}</ref>

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In May 2020, a partnership was announced with [[Samsung]] whereby Samsung smartphone users could link their Samsung Blockchain Wallets to their Gemini accounts to view balances and transfer crypto.<ref>{{Cite web|last=Schroeder|first=Stan|title=Samsung makes it easier to buy Bitcoin on its phones|url=https://mashable.com/article/samsung-gemini-bitcoin/|access-date=June 15, 2020|website=Mashable|date=May 28, 2020|language=en}}</ref>

In February 2021, Gemini announced that Gemini Earn, in partnership with cryptocurrency broker Genesis, would offer a 7.4% return on customer deposits.<ref name="SEC 2023-7"/><ref>{{Cite web|url=https://www.forbes.com/sites/johnhyatt/2022/12/16/crypto-exchange-gemini-modifies-terms-and-services-as-gemini-dollar-its-own-stablecoin-gets-caught-in-market-contagion/?sh=65b8850471c5 | title=Crypto Exchange Gemini Modifies Terms Of Service As Gemini Dollar, Its Own Stablecoin, Gets Caught In Market Contagion|date= Dec 16, 2022|access-date=November 16, 2023|website=[[Forbes]]}}</ref>

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In November 2021, Gemini raised a $400 million investment that values the New York parent company, Gemini Space Station, LLC, at $7.1 billion.<ref>{{Cite web|url=https://www.forbes.com/sites/johnhyatt/2022/12/16/crypto-exchange-gemini-modifies-terms-and-services-as-gemini-dollar-its-own-stablecoin-gets-caught-in-market-contagion/?sh=65b8850471c5|title=Gemini Raises $400 Million to Build a Metaverse Outside Facebook's Walled Garden|website=[[Forbes]]}}</ref>

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On June 2, 2022, the [[Commodity Futures Trading Commission]] (CFTC) filed a suit against Gemini based on alleged misrepresentation of the company's exchange and futures contracts during 2017 meetings with the CFTC. The suit is seeking to block Gemini and its affiliates from trading commodities and getting further investments, in addition to monetary fines.<ref>{{cite web |last1=Brandom |first1=Russell |title=Regulators sue Winklevoss crypto firm over futures contracts |url=https://www.theverge.com/2022/6/2/23151924/winklevoss-gemini-bitcoin-futures-contract-cftc-regulation-cryptocurrency |website=The Verge |date=June 2, 2022 |access-date=June 2, 2022}}</ref> Also on June 2 Cameron and Tyler Winklevoss announced they would be [[Layoff|laying off]] 10% of the company staff, citing a "contraction phase" known as "crypto winter" in the cryptocurrency industry.<ref>{{cite news |last=Sigalos |first=MacKenzie |url=https://www.cnbc.com/2022/06/02/winklevoss-twins-gemini-citting-10percent-says-crypto-winter-is-here.html |title=Winklevoss twins' Gemini cutting 10% of its staff, saying 'crypto winter' is here |work=[[CNBC]] |date=June 2, 2022 |accessdate=June 4, 2022 }}</ref>

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On January 12, 2023, the [[Securities and Exchange Commission]] charged Gemini Trust Company with the unregistered offer and sale of securities to retail investors through the [[Gemini Earn]] crypto asset lending program. As part of the same action, the SEC also charged [[Genesis Global Capital]], a subsidiary of [[Digital Currency Group]], which held approximately $900 million in investor assets from 340,000 Gemini Earn customers. Gemini Earn was shut down in January 2023, following Genesis suspending withdrawals in November 2022.<ref>{{Cite news |date=2024-02-29 |title=Winklevoss crypto firm Gemini to return $1.1bn to customers |url=https://www.bbc.com/news/business-68432478 |access-date=2024-03-04 |language=en-GB}}</ref> The SEC is seeking permanent injunctive relief, disgorgement of ill-gotten gains plus prejudgment interest, and civil penalties against both Gemini and Genesis.<ref name="SEC 2023-7">{{cite web |title=SEC.gov {{!}} SEC Charges Genesis and Gemini for the Unregistered Offer and Sale of Crypto Asset Securities through the Gemini Earn Lending Program |url=https://www.sec.gov/news/press-release/2023-7# |website=www.sec.gov |access-date=January 13, 2023}}</ref>

On February 6, 2023, Genesis Global Holdco announced an agreement in principle with [[Digital Currency Group]] and creditors of Genesis Global Capital, including Gemini. Gemini will contribute "up to $100 million in cash" to the restructuring and recovery agreement.<ref>{{cite web |last1=Sigalos |first1=MacKenzie |last2=Goswami |first2=Rohan |title=Winklevoss twins' crypto exchange Gemini to contribute $100 million to Genesis bankruptcy recovery |url=https://www.cnbc.com/2023/02/06/gemini-to-contribute-100-million-to-genesis-bankruptcy-recovery-plan.html |website=CNBC |access-date=8 February 2023 |language=en}}</ref>

In March 2023, rumors about American multinational financial services company, JPMorgan (JPM) ending its banking relationship with Gemini were raised. However, shortly after, Gemini denied such rumors and shared via Twitter that the "banking relationship remains intact with JPMorgan."<ref>{{Cite web |last=Yue |first=Frances |title=Crypto exchange Gemini denies report that JPMorgan is ending banking relationship with the company |url=https://www.marketwatch.com/story/jpmorgan-is-ending-banking-relationship-with-crypto-exchange-gemini-coindesk-ddf08829 |access-date=2023-03-22 |website=MarketWatch |language=EN-US}}</ref>


In May 2023, Gemini announced that [[Dublin|Dublin, Ireland]] would be the location for the company's headquarters in Europe.<ref>{{Cite web |title=Crypto Exchange Gemini Picks Ireland for Europe Headquarters |url=https://news.bloomberglaw.com/crypto/crypto-exchange-gemini-picks-ireland-for-europe-headquarters |access-date=2024-02-22 |website=news.bloomberglaw.com |language=en}}</ref><ref name=":1">{{Cite web |last=Browne |first=Ryan |date=2024-01-17 |title=Winklevoss' crypto exchange Gemini gets nod to launch in France amid clash with U.S. regulators |url=https://www.cnbc.com/2024/01/17/winklevoss-crypto-exchange-gemini-gets-nod-to-launch-in-france.html |access-date=2024-02-22 |website=CNBC |language=en}}</ref>
⚫
In November 2019, the Gemini Trust Co. bought ''[[Nifty Gateway]]'' for an undisclosed sum. Nifty Gateway is a marketplace for [[Non-fungible_token|NFTs]].<ref name="Bloomberg 2019-11-19">{{cite news |url=https://www.bloomberg.com/news/articles/2019-11-19/winklevoss-brothers-buy-a-startup-founded-by-identical-twins |title=Winklevoss Brothers Buy a Startup Founded by Identical Twins |work=Bloomberg |date=November 19, 2019 |accessdate=April 7, 2021 }}</ref><ref name="Fox Business 2021-04-05">{{cite news |url=https://www.foxbusiness.com/technology/winklevoss-twins-slam-facebook-as-their-crypto-business-booms |title=Winklevoss twins slam Facebook as their crypto business booms |work=Fox Business |date=April 5, 2021 |accessdate=April 7, 2021 }}</ref> The goal of the NFT marketplace is to be a custodian for various assets, including property deeds, passports, commodities, collectibles, videogame characters, movies, music and event tickets.<ref name="Forbes 2021-04-05">{{cite news |url=https://www.forbes.com/sites/michaeldelcastillo/2021/04/05/revenge-of-the-winklevii-facebook-winklevoss-bitcoin-nft-billionaire-revenge |title=Revenge Of The Winklevii |work=Forbes |date=April 5, 2021 |accessdate=April 7, 2021 }}</ref>


In January 2024, Gemini received crypto registration in France, allowing the company to provide service in the country.<ref name=":1" />
⚫
In May 2020, a partnership was announced with Samsung whereby Samsung smartphone users could link their Samsung Blockchain Wallets to their Gemini accounts to view balances and transfer crypto.<ref>{{Cite web|last=Schroeder|first=Stan|title=Samsung makes it easier to buy Bitcoin on its phones|url=https://mashable.com/article/samsung-gemini-bitcoin/|access-date=June 15, 2020|website=Mashable|date=May 28, 2020|language=en}}</ref>


== 2023 New York lawsuit ==
⚫
In November 2021 Gemini raised $400 million investment that values the New York parent company, Gemini Space Station, LLC, at $7.1 billion.<ref>{{Cite web|url=https://www.forbes.com/sites/michaeldelcastillo/2021/11/18/gemini-raises-400-million-to-protect-the-metaverse-from-meta-facebook/|title=Gemini Raises $400 Million to Build a Metaverse Outside Facebook's Walled Garden|website=[[Forbes]]}}</ref>
{{Expand section|date=October 2023}}
On October 19, 2023, New York Attorney General [[Letitia James]] filed a lawsuit against Gemini and digital asset companies [[Digital Currency Group]] and [[Genesis (cryptocurrency company)|Genesis Global Capital]]. The lawsuit focused on Gemini Earn, a program through Gemini that promised users a safe way to earn high-interest earnings;<ref>{{Cite magazine |last=Khalili |first=Joel |title=Crypto Groups Gemini, Genesis, and DCG Sued for $1.1 Billion 'Fraud' |url=https://www.wired.com/story/crypto-gemini-genesis-dcg-sued-billion-dollar-fraud/ |access-date=2024-02-22 |magazine=Wired |language=en-US |issn=1059-1028}}</ref> the lawsuit stated that Gemini had deceived investors about the risks of a lending service it ran in joint with Genesis. James stated that 230,000 investors lost their money due to the program.<ref>{{Cite web |last=Morrow |first=Allison |date=2023-10-19 |title=New York AG accuses crypto firms of deceiving investors in $1 billion fraud {{!}} CNN Business |url=https://www.cnn.com/2023/10/19/tech/crypto-firms-fraud-charges-new-york/index.html |access-date=2023-10-21 |website=CNN |language=en}}</ref><ref>{{Cite news |date=2023-10-19 |title=Top crypto firms named in $1bn fraud lawsuit |language=en-GB |work=BBC News |url=https://www.bbc.com/news/business-67161638 |access-date=2023-10-21}}</ref><ref name=":0">{{Cite web |last=Roush |first=Ty |title=New York Expands Lawsuit Against Gemini And DCG—Claiming $3 Billion In Alleged Crypto Fraud Scheme |url=https://www.forbes.com/sites/tylerroush/2024/02/09/new-york-expands-lawsuit-against-gemini-and-dcg-claiming-3-billion-in-alleged-crypto-fraud-scheme/ |access-date=2024-02-22 |website=Forbes |language=en}}</ref> James sought over $3 billion in restitution from Gemini and Genesis.<ref name=":0" /><ref name=":2" />


In February 2024, Genesis settled after filing bankruptcy. Part of the settlement states that Genesis would return assets to investors and pay $21 million to the [[U.S. Securities and Exchange Commission|SEC]]; the deal was made final in March 2024.<ref>{{Cite web |date=9 February 2024 |title=Bankrupt Genesis Global settles NY Attorney General's lawsuit |url=https://www.reuters.com/legal/bankrupt-genesis-global-settles-ny-attorney-generals-lawsuit-2024-02-09/ |website=Reuters}}</ref><ref>{{Cite web |last=Versprille |first=Allyson |date=19 March 2024 |title=Genesis's $21 Million Settlement With SEC Green Lit by Judge |url=https://www.bloomberg.com/news/articles/2024-03-19/genesis-s-21-million-settlement-with-sec-green-lit-by-judge |access-date=2024-03-19 |website=www.bloomberg.com}}</ref><ref>{{Cite web |date=2024-03-19 |title=SEC Hits Genesis with $21 Million Penalty over Unregistered Crypto Lending Program |url=https://www.financemagnates.com/cryptocurrency/sec-hits-genesis-with-21-million-penalty-over-unregistered-crypto-lending-program/ |access-date=2024-03-19 |website=Financial and Business News {{!}} Finance Magnates |language=en}}</ref>
⚫
On June 2, 2022, the [[Commodity Futures Trading Commission]] (CFTC) filed a suit against Gemini based on alleged misrepresentation of the company's exchange and futures contracts during 2017 meetings with the CFTC. The suit is seeking to block Gemini, as well as its affiliates, from trading commodities and getting further investments, in addition to monetary fines.<ref>{{cite web |last1=Brandom |first1=Russell |title=Regulators sue Winklevoss crypto firm over futures contracts |url=https://www.theverge.com/2022/6/2/23151924/winklevoss-gemini-bitcoin-futures-contract-cftc-regulation-cryptocurrency |website=The Verge |date=June 2, 2022 |access-date=June 2, 2022}}</ref> Also on June 2 Cameron and Tyler Winklevoss announced they would be [[Layoff|laying off]] 10% of the company staff, citing a "contraction phase" known as "crypto winter" in the cryptocurrency industry.<ref>{{cite news |last=Sigalos |first=MacKenzie |url=https://www.cnbc.com/2022/06/02/winklevoss-twins-gemini-citting-10percent-says-crypto-winter-is-here.html |title=Winklevoss twins' Gemini cutting 10% of its staff, saying 'crypto winter' is here |work=[[CNBC]] |date=June 2, 2022 |accessdate=June 4, 2022 }}</ref>


On March 1, 2024, Gemini agreed to refund at least $1.1 billion to users of its halted Earn program and pay a $37 million fine,<ref>{{Cite web |title=Winklevoss-led Gemini agrees to return over $1 billion to customers in deal with N.Y. regulator that includes $37 million fine |url=https://fortune.com/crypto/2024/02/28/winklevoss-gemini-genesis-adrienne-harris-dfs-silbert-dcg/ |access-date=2024-03-04 |website=Fortune Crypto |language=en}}</ref> following a settlement with the [[New York State Department of Financial Services|New York Department of Financial Services]] over allegations of unsafe practices related to its partnership with the now-bankrupt Genesis Global Capital.<ref>{{Cite web |date=2024-02-29 |title=Gemini to return more than $1.1B to Earn customers |url=https://finance.yahoo.com/news/gemini-return-more-1-1b-113227123.html |access-date=2024-03-01 |website=Yahoo Finance |language=en-US}}</ref><ref name=":2">{{Cite news |last=Sun |first=Mengqi |title=Crypto Exchange Gemini to Return $1.1 Billion to Customers in Regulator Settlement |url=https://www.wsj.com/articles/gemini-to-return-1-1-billion-to-customers-in-new-york-regulator-settlement-9b647f30 |access-date=2024-03-04 |work=WSJ |language=en-US}}</ref>
⚫
On January 12, 2023, the [[Securities and Exchange Commission]] charged Gemini Trust Company with the unregistered offer and sale of securities to retail investors through the Gemini Earn crypto asset lending program. As part of the same action, the SEC also charged [[Genesis Global Capital]], a subsidiary of [[Digital Currency Group]], which held approximately $900 million in investor assets from 340,000 Gemini Earn customers. Gemini Earn was shut down in January 2023, following Genesis suspending withdrawals in November 2022. The SEC is seeking permanent injunctive relief, disgorgement of ill-gotten gains plus prejudgment interest, and civil penalties against both Gemini and Genesis.<ref>{{cite web |title=SEC.gov {{!}} SEC Charges Genesis and Gemini for the Unregistered Offer and Sale of Crypto Asset Securities through the Gemini Earn Lending Program |url=https://www.sec.gov/news/press-release/2023-7# |website=www.sec.gov |access-date=January 13, 2023}}</ref>


== Service disruptions ==
== Service disruptions ==
The site's primary challenge has been remaining online at times of excessively high volumes, a relatively common occurrence for any website receiving an unusual amount of traffic.<ref>{{cite news|url=http://www.business-standard.com/article/markets/bitcoin-fever-exposes-crypto-market-frailties-117122500028_1.html|title=Bitcoin fever exposes crypto-market frailties|newspaper=Business Standard India|last=Irrera|first=Jemima Kelly & Anna|date=December 25, 2017|access-date=October 17, 2018}}</ref><ref>{{cite web|url=https://qz.com/1150212/bitcoin-exchanges-coinbase-and-gemini-experience-system-issues-as-btc-price-surges/|website=Quartz|title=Bitcoin is going bananas and exchanges are struggling to keep up|last=Detrixhe|first=John|date=December 7, 2017|access-date=October 17, 2018}}</ref> On November 28, 2017, for example, both Gemini and Coinbase crashed for several hours. Gemini was showing a "504 gateway time-out" message, and the status page showed "Systems are currently experiencing degraded performance."<ref>{{cite web|url=http://www.businessinsider.com/bitcoin-price-gemini-exchange-coinbase-login-issues|title=Bitcoin's price is collapsing and people can't trade because 2 big exchanges have crashed|website=Business Insider|date=November 19, 2017|author=Becky Peterson|access-date=October 17, 2018}}</ref> Subsequently, the Gemini Blog offered this comment. "This is not the first scaling challenge we’ve encountered, and it won’t be the last. We’re continuing to improve our performance and infrastructure monitoring so we can anticipate potential problems more quickly in the future."<ref>{{cite web|url=http://www.businessinsider.com/bitcoin-futures-exchange-gemini-scheduled-maintenance-2017-12|title=Gemini, the crypto exchange founded by the Winklevoss twins, extends maintenance after massive bitcoin sell-off|website=Business Insider|author=Frank Chaparro |date=December 9, 2017|access-date=October 17, 2018}}</ref>
The site's primary challenge has been remaining online at times of excessively high volumes, a relatively common occurrence for any website receiving an unusual amount of traffic.<ref>{{cite news|url=http://www.business-standard.com/article/markets/bitcoin-fever-exposes-crypto-market-frailties-117122500028_1.html|title=Bitcoin fever exposes crypto-market frailties|newspaper=Business Standard India|last=Irrera|first=Jemima Kelly & Anna|date=December 25, 2017|access-date=October 17, 2018}}</ref><ref>{{cite web|url=https://qz.com/1150212/bitcoin-exchanges-coinbase-and-gemini-experience-system-issues-as-btc-price-surges/|website=Quartz|title=Bitcoin is going bananas and exchanges are struggling to keep up|last=Detrixhe|first=John|date=December 7, 2017|access-date=October 17, 2018}}</ref> On November 28, 2017, for example, both Gemini and [[Coinbase]] crashed for several hours. Gemini was showing a "504 gateway time-out" message, and the status page showed "Systems are currently experiencing degraded performance."<ref>{{cite web|url=http://www.businessinsider.com/bitcoin-price-gemini-exchange-coinbase-login-issues|title=Bitcoin's price is collapsing and people can't trade because 2 big exchanges have crashed|website=Business Insider|date=November 19, 2017|author=Becky Peterson|access-date=October 17, 2018}}</ref> Subsequently, the Gemini Blog offered this comment. "This is not the first scaling challenge we've encountered, and it won't be the last. We're continuing to improve our performance and infrastructure monitoring so we can anticipate potential problems more quickly in the future."<ref>{{cite web|url=http://www.businessinsider.com/bitcoin-futures-exchange-gemini-scheduled-maintenance-2017-12|title=Gemini, the crypto exchange founded by the Winklevoss twins, extends maintenance after massive bitcoin sell-off|website=Business Insider|author=Frank Chaparro |date=December 9, 2017|access-date=October 17, 2018}}</ref>


== References ==
== References ==
Line 54: Line 74:


== External links ==
== External links ==
* [http://gemini.com/ Gemini website]
* {{official website|http://gemini.com/}}


{{Cryptocurrency exchanges}}
{{Cryptocurrencies}}


[[Category:Bitcoin exchanges]]
[[Category:Bitcoin exchanges]]
[[Category:Financial services companies established in 2015]]
[[Category:Financial services companies established in 2015]]
[[Category:Digital currency exchanges]]
[[Category:Cryptocurrency exchanges]]
[[Category:2015 establishments in New York City]]
[[Category:2015 establishments in New York City]]
[[Category:American companies established in 2015]]
[[Category:American companies established in 2015]]

Latest revision as of 05:25, 12 November 2024

For other uses, see Gemini (disambiguation).
Gemini
TypeCryptocurrency exchange
LocationNew York, U.S.
Coordinates40°44′57″N 73°58′33″W / 40.749256°N 73.97584°W / 40.749256; -73.97584[1]
FoundedOctober 25, 2014; 10 years ago (2014-10-25)
OwnerGemini Trust Company, LLC
Key peopleCameron Winklevoss (Co-founder)
Tyler Winklevoss (Co-founder)
CurrencyCryptocurrencies,[2] Fiat currencies[3]
Websitewww.gemini.com

Gemini Trust Company, LLC (Gemini) is an American cryptocurrency exchange and custodian bank. It was founded in 2014 by Cameron and Tyler Winklevoss.[4][5][6]

In 2023, the company, along with two others, was sued by the New York attorney general Letitia James under allegations that it had "defrauded" investors by exposing them to undue risk.[7][8]

History

[edit]

Tyler and Cameron Winklevoss announced Gemini in June 2013[9] and the company went live on October 25, 2015. Gemini began to facilitate the purchase and storage of Bitcoin through a complex system of private keys and password-protected environments. Gemini holds a Limited Purpose Trust Charter from the New York Department of Financial Services granted in October 2015.[10] Gemini began adding to the financial services[11] it offers thereafter, some of which include FIX and API support.

On May 5, 2016, Governor Andrew Cuomo of New York State announced the approval of Gemini as the first licensed Ethereum exchange based in the United States.[12] Additionally, in 2016, Gemini announced it would allow users to withdraw Ethereum Classic (ETC) from the exchange, following a hard fork in Ethereum's code.[13]

In October 2017, Gemini announced that it allowed registered users to withdraw Bitcoin Cash from the exchange provided they had a balance available on the exchange before the Bitcoin hard fork in August 2017.[14]

In December 2017, the Chicago Board Options Exchange (CBOE) began to use Gemini to settle its Bitcoin futures contracts.[15] CBOE partnered with Gemini so as to use Gemini's dollar denominated auction price for these contracts. In March 2019, CBOE announced they would stop listing Bitcoin futures.[16]

In April 2018, Gemini began offering "Block Trading". Block Trading enables Gemini users to buy and sell large quantities of digital assets outside of Gemini's continuous order books, creating an additional liquidity mechanism when trading in greater size.[17] Also in April, Gemini began to utilize NASDAQ's SMARTS technology to monitor trades and combat fraudulent activity and price manipulation on its exchange.[18] On May 14, 2018, the New York Department of Financial Services announced it had approved Gemini to offer Zcash (ZEC) on their platform, becoming the first licensed exchange to offer trading and custody services for it.[19] On September 10, 2018, Gemini had received regulatory approval for a new product, the Gemini dollar (GUSD) from the NYDFS and would launch trading of the coin that same day. Gemini described the product as a stablecoin which maintains a 1-to-1 peg with the American dollar.[20][21] On October 3, 2018, it was announced that Gemini had obtained digital asset insurance covering tokens and coins held on its exchange. The insurance had been brokered by Aon, a London-based public risk consulting company, and underwritten by a consortium of global underwriters.[22]

In November 2019, the Gemini Trust Co. bought Nifty Gateway for an undisclosed sum. Nifty Gateway is a marketplace for NFTs.[23][24] The goal of the NFT marketplace is to be a custodian for various assets, including property deeds, passports, commodities, collectibles, videogame characters, movies, music and event tickets.[25]

In May 2020, a partnership was announced with Samsung whereby Samsung smartphone users could link their Samsung Blockchain Wallets to their Gemini accounts to view balances and transfer crypto.[26]

In February 2021, Gemini announced that Gemini Earn, in partnership with cryptocurrency broker Genesis, would offer a 7.4% return on customer deposits.[27][28]

In November 2021, Gemini raised a $400 million investment that values the New York parent company, Gemini Space Station, LLC, at $7.1 billion.[29]

On June 2, 2022, the Commodity Futures Trading Commission (CFTC) filed a suit against Gemini based on alleged misrepresentation of the company's exchange and futures contracts during 2017 meetings with the CFTC. The suit is seeking to block Gemini and its affiliates from trading commodities and getting further investments, in addition to monetary fines.[30] Also on June 2 Cameron and Tyler Winklevoss announced they would be laying off 10% of the company staff, citing a "contraction phase" known as "crypto winter" in the cryptocurrency industry.[31]

On January 12, 2023, the Securities and Exchange Commission charged Gemini Trust Company with the unregistered offer and sale of securities to retail investors through the Gemini Earn crypto asset lending program. As part of the same action, the SEC also charged Genesis Global Capital, a subsidiary of Digital Currency Group, which held approximately $900 million in investor assets from 340,000 Gemini Earn customers. Gemini Earn was shut down in January 2023, following Genesis suspending withdrawals in November 2022.[32] The SEC is seeking permanent injunctive relief, disgorgement of ill-gotten gains plus prejudgment interest, and civil penalties against both Gemini and Genesis.[27]

On February 6, 2023, Genesis Global Holdco announced an agreement in principle with Digital Currency Group and creditors of Genesis Global Capital, including Gemini. Gemini will contribute "up to $100 million in cash" to the restructuring and recovery agreement.[33]

In March 2023, rumors about American multinational financial services company, JPMorgan (JPM) ending its banking relationship with Gemini were raised. However, shortly after, Gemini denied such rumors and shared via Twitter that the "banking relationship remains intact with JPMorgan."[34]

In May 2023, Gemini announced that Dublin, Ireland would be the location for the company's headquarters in Europe.[35][36]

In January 2024, Gemini received crypto registration in France, allowing the company to provide service in the country.[36]

2023 New York lawsuit

[edit]

On October 19, 2023, New York Attorney General Letitia James filed a lawsuit against Gemini and digital asset companies Digital Currency Group and Genesis Global Capital. The lawsuit focused on Gemini Earn, a program through Gemini that promised users a safe way to earn high-interest earnings;[37] the lawsuit stated that Gemini had deceived investors about the risks of a lending service it ran in joint with Genesis. James stated that 230,000 investors lost their money due to the program.[38][39][40] James sought over $3 billion in restitution from Gemini and Genesis.[40][41]

In February 2024, Genesis settled after filing bankruptcy. Part of the settlement states that Genesis would return assets to investors and pay $21 million to the SEC; the deal was made final in March 2024.[42][43][44]

On March 1, 2024, Gemini agreed to refund at least $1.1 billion to users of its halted Earn program and pay a $37 million fine,[45] following a settlement with the New York Department of Financial Services over allegations of unsafe practices related to its partnership with the now-bankrupt Genesis Global Capital.[46][41]

Service disruptions

[edit]

The site's primary challenge has been remaining online at times of excessively high volumes, a relatively common occurrence for any website receiving an unusual amount of traffic.[47][48] On November 28, 2017, for example, both Gemini and Coinbase crashed for several hours. Gemini was showing a "504 gateway time-out" message, and the status page showed "Systems are currently experiencing degraded performance."[49] Subsequently, the Gemini Blog offered this comment. "This is not the first scaling challenge we've encountered, and it won't be the last. We're continuing to improve our performance and infrastructure monitoring so we can anticipate potential problems more quickly in the future."[50]

References

[edit]
  1. ^ "Company Overview of Gemini Trust Co LLC". Bloomberg. Retrieved October 16, 2022.
  2. ^ "What cryptos are supported on the Gemini Exchange?". Gemini Support. Retrieved October 16, 2022.
  3. ^ "Does Gemini support fiat currencies other than USD?". Gemini Support. Retrieved October 16, 2022.
  4. ^ Metz, Cade. "With Winklevoss Bitcoin Exchange, Digital Currency Grows Up". Wired. Retrieved October 17, 2018.
  5. ^ Daniel Roberts (October 5, 2015). "Winklevoss Brothers Get License for Gemini Bitcoin Exchange – Fortune". Fortune. Retrieved October 17, 2018.
  6. ^ Paul Vigna. "Winklevoss Twins' Gemini Exchange Gets Trust License – BitBeat". WSJ blog. Retrieved October 17, 2018.
  7. ^ "Winklevoss Twins' crypto firm, others face $1bn fraud lawsuit for allegedly lying to over 230,000 investors". Hindustan Times. October 20, 2023. Retrieved October 21, 2023.
  8. ^ Livni, Ephrat (October 19, 2023). "New York Attorney General Sues Crypto Firms in $1 Billion Fraud Case". The New York Times. ISSN 0362-4331. Retrieved October 21, 2023.
  9. ^ Nathaniel Popper; Peter Lattman (July 1, 2017). "Winklevoss Twins Plan First Fund for Bitcoins". Article. New York Times. Retrieved July 1, 2013.
  10. ^ "Virtual Currency Businesses". New York Department of Financial Services. Retrieved July 22, 2022.
  11. ^ Gapusan, Jeff. "Bitcoin 2024: When Rage Became The Machine". Forbes. Retrieved October 7, 2024.
  12. ^ "Governor Cuomo Announces Approval of First U.S.-Based Ethereum Exchange, Created and Operated In New York". Governor Andrew M. Cuomo. May 5, 2016. Retrieved October 17, 2018.
  13. ^ Winklevoss, Cameron (August 12, 2016). "UPDATE #2: Ether Classic Withdrawals". Gemini. Retrieved June 6, 2018.
  14. ^ "Bitcoin Cash (BCH) Withdrawals". Article. Gemini Exchange. October 7, 2017.
  15. ^ Rob Urban; Camila Russo (December 9, 2017). "Bitcoin Futures Trading Brings Crypto Into Mainstream". Article. Bloomberg. Retrieved October 17, 2018.
  16. ^ Rooney, Kate (March 18, 2019). "Cboe to stop listing bitcoin futures as interest in crypto trading cools". CNBC. Retrieved July 22, 2022.
  17. ^ Olga Kharif; Matthew Leising (April 9, 2018). "Winklevosses' Gemini to Offer Cryptocurrency Block Trading". Article. Bloomberg. Retrieved October 17, 2018.
  18. ^ Matthew Leising; Nick Baker (April 25, 2018). "Winklevoss Twins Hire Nasdaq to Watch for Crypto Cheaters". Article. Bloomberg. Retrieved October 17, 2018.
  19. ^ "Press Release - May 14, 2018". New York State Department of Financial Services. Retrieved June 6, 2018.
  20. ^ Annie Massa; Matthew Leising (September 10, 2018). "Terms of Service Violation". bloomberg. Retrieved October 17, 2018.
  21. ^ "September 10, 2018: DFS Continues to Foster Responsible Growth in New York's". New York State Department of Financial Services. Archived from the original on September 11, 2018. Retrieved September 26, 2018.
  22. ^ Massa, Annie (October 3, 2018). "Winklevoss's Gemini Obtains Insurance for Crypto-Assets". Bloomberg.com. Retrieved October 17, 2018.
  23. ^ "Winklevoss Brothers Buy a Startup Founded by Identical Twins". Bloomberg. November 19, 2019. Retrieved April 7, 2021.
  24. ^ "Winklevoss twins slam Facebook as their crypto business booms". Fox Business. April 5, 2021. Retrieved April 7, 2021.
  25. ^ "Revenge Of The Winklevii". Forbes. April 5, 2021. Retrieved April 7, 2021.
  26. ^ Schroeder, Stan (May 28, 2020). "Samsung makes it easier to buy Bitcoin on its phones". Mashable. Retrieved June 15, 2020.
  27. ^ a b "SEC.gov | SEC Charges Genesis and Gemini for the Unregistered Offer and Sale of Crypto Asset Securities through the Gemini Earn Lending Program". www.sec.gov. Retrieved January 13, 2023.
  28. ^ "Crypto Exchange Gemini Modifies Terms Of Service As Gemini Dollar, Its Own Stablecoin, Gets Caught In Market Contagion". Forbes. December 16, 2022. Retrieved November 16, 2023.
  29. ^ "Gemini Raises $400 Million to Build a Metaverse Outside Facebook's Walled Garden". Forbes.
  30. ^ Brandom, Russell (June 2, 2022). "Regulators sue Winklevoss crypto firm over futures contracts". The Verge. Retrieved June 2, 2022.
  31. ^ Sigalos, MacKenzie (June 2, 2022). "Winklevoss twins' Gemini cutting 10% of its staff, saying 'crypto winter' is here". CNBC. Retrieved June 4, 2022.
  32. ^ "Winklevoss crypto firm Gemini to return $1.1bn to customers". February 29, 2024. Retrieved March 4, 2024.
  33. ^ Sigalos, MacKenzie; Goswami, Rohan. "Winklevoss twins' crypto exchange Gemini to contribute $100 million to Genesis bankruptcy recovery". CNBC. Retrieved February 8, 2023.
  34. ^ Yue, Frances. "Crypto exchange Gemini denies report that JPMorgan is ending banking relationship with the company". MarketWatch. Retrieved March 22, 2023.
  35. ^ "Crypto Exchange Gemini Picks Ireland for Europe Headquarters". news.bloomberglaw.com. Retrieved February 22, 2024.
  36. ^ a b Browne, Ryan (January 17, 2024). "Winklevoss' crypto exchange Gemini gets nod to launch in France amid clash with U.S. regulators". CNBC. Retrieved February 22, 2024.
  37. ^ Khalili, Joel. "Crypto Groups Gemini, Genesis, and DCG Sued for $1.1 Billion 'Fraud'". Wired. ISSN 1059-1028. Retrieved February 22, 2024.
  38. ^ Morrow, Allison (October 19, 2023). "New York AG accuses crypto firms of deceiving investors in $1 billion fraud | CNN Business". CNN. Retrieved October 21, 2023.
  39. ^ "Top crypto firms named in $1bn fraud lawsuit". BBC News. October 19, 2023. Retrieved October 21, 2023.
  40. ^ a b Roush, Ty. "New York Expands Lawsuit Against Gemini And DCG—Claiming $3 Billion In Alleged Crypto Fraud Scheme". Forbes. Retrieved February 22, 2024.
  41. ^ a b Sun, Mengqi. "Crypto Exchange Gemini to Return $1.1 Billion to Customers in Regulator Settlement". WSJ. Retrieved March 4, 2024.
  42. ^ "Bankrupt Genesis Global settles NY Attorney General's lawsuit". Reuters. February 9, 2024.
  43. ^ Versprille, Allyson (March 19, 2024). "Genesis's $21 Million Settlement With SEC Green Lit by Judge". www.bloomberg.com. Retrieved March 19, 2024.
  44. ^ "SEC Hits Genesis with $21 Million Penalty over Unregistered Crypto Lending Program". Financial and Business News | Finance Magnates. March 19, 2024. Retrieved March 19, 2024.
  45. ^ "Winklevoss-led Gemini agrees to return over $1 billion to customers in deal with N.Y. regulator that includes $37 million fine". Fortune Crypto. Retrieved March 4, 2024.
  46. ^ "Gemini to return more than $1.1B to Earn customers". Yahoo Finance. February 29, 2024. Retrieved March 1, 2024.
  47. ^ Irrera, Jemima Kelly & Anna (December 25, 2017). "Bitcoin fever exposes crypto-market frailties". Business Standard India. Retrieved October 17, 2018.
  48. ^ Detrixhe, John (December 7, 2017). "Bitcoin is going bananas and exchanges are struggling to keep up". Quartz. Retrieved October 17, 2018.
  49. ^ Becky Peterson (November 19, 2017). "Bitcoin's price is collapsing and people can't trade because 2 big exchanges have crashed". Business Insider. Retrieved October 17, 2018.
  50. ^ Frank Chaparro (December 9, 2017). "Gemini, the crypto exchange founded by the Winklevoss twins, extends maintenance after massive bitcoin sell-off". Business Insider. Retrieved October 17, 2018.
[edit]
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