All articles tagged with #winklevoss twins
Gemini, a crypto brokerage run by the Winklevoss twins, priced its IPO at $28 per share, valuing it at $3.3 billion, and is expected to trade higher on Nasdaq, reflecting strong investor interest in crypto-related companies amid rising crypto prices and favorable regulation. Despite revenue growth, Gemini posted losses, but its user base and trading volume are increasing, and Nasdaq's investment signals confidence in the sector.
The article discusses the Winklevoss twins' involvement in a significant crypto IPO and highlights the financial challenges and opportunities in the digital subscription market, particularly for the Financial Times. It emphasizes the growing interest in cryptocurrency ventures and the importance of digital access to financial news.
Gemini, the cryptocurrency exchange led by the Winklevoss twins, raised $425 million in an IPO priced above its initial range, with shares set to trade on Nasdaq under GEMI, marking a significant move in the crypto and tech sectors.
Gemini, the crypto exchange founded by the Winklevoss twins, has filed for an IPO on Nasdaq, revealing widening net losses with $158.5 million in 2024 and over $282 million in the first half of 2025, amid a growing trend of crypto firms going public as regulatory environments become more favorable.
Gemini, the crypto exchange founded by the Winklevoss twins, has confidentially filed for an IPO amid renewed market enthusiasm following successful listings like Circle's debut on the NYSE, signaling increased confidence and mainstream acceptance in the digital asset industry, despite ongoing regulatory challenges.
Cameron and Tyler Winklevoss were refunded after their Bitcoin donations to Donald Trump's presidential campaign exceeded the federal legal limit of $844,600 per person, having donated the equivalent of $1 million each.
The Winklevoss twins have each donated $1 million in bitcoin to Donald Trump's campaign, citing his pro-crypto stance and criticizing Joe Biden's regulatory approach to the cryptocurrency industry. They argue that Biden's administration has stifled the crypto sector and are rallying support for Trump as a champion of cryptocurrency.
The Winklevoss twins, Cameron and Tyler, have endorsed former President Trump for the 2024 election, each donating $1 million in Bitcoin to his campaign. They criticized the Biden administration for its alleged "war on crypto," claiming it has used government agencies to undermine the cryptocurrency industry. The twins argue that Trump is the pro-Bitcoin, pro-crypto, and pro-business candidate who will end these policies.
Gemini, founded by the Winklevoss twins, has agreed to return at least $1.1 billion to customers of its failed "Earn" lending program and pay a $37 million fine for compliance failures as part of a settlement with regulators. The program promised up to 8% interest on crypto deposits but collapsed when its lending partner, Genesis, faced financial troubles. The New York State Department of Financial Services found that Gemini failed to vet Genesis and engaged in unsafe practices, leading to over 200,000 customers being unable to access their funds. Gemini also faces lawsuits and regulatory scrutiny over the program's collapse.
Cryptocurrency exchange Gemini has agreed to pay back $1.1 billion to customers as part of a settlement with New York’s Department of Financial Services, following compliance and management issues related to its Earn program. The program allowed customers to loan their cryptocurrency to Genesis Global Capital, but when Genesis defaulted on loans, around 200,000 customers were unable to access their funds. Gemini has promised to return 100% of digital assets back to customers and faces a separate lawsuit alleging losses of $3 billion.
Gemini, the crypto startup owned by the Winklevoss twins, has agreed to return $1.1 billion to customers who lost money in their partnership with the now-bankrupt crypto lender Genesis. The New York State Department of Financial Services stated that Gemini failed to fully vet or monitor Genesis, leading to significant losses for around 200,000 customers. Gemini will also pay $40 million to the Genesis bankruptcy for the benefit of customers and a $37 million fine for regulatory failures.
Gemini, the crypto firm founded by the Winklevoss twins, has agreed to pay a $37 million fine and return over $1 billion to customers as part of a settlement with the New York Department of Financial Services related to its troubled Earn product. The agreement comes after lawsuits from New York’s attorney general and the Securities and Exchange Commission over the Earn program, which allowed customers to lend out cryptocurrencies for a yield of up to 13%. The program's sole counterparty, Genesis, experienced a financial meltdown, leaving more than 200,000 customers with over $1.7 billion in frozen assets. Gemini failed to conduct due diligence on Genesis and is accused of making misleading representations to customers, leading to significant regulatory action.
New York Attorney General Letitia James is expanding her lawsuit against cryptocurrency firms Gemini, Genesis Global Capital, and Digital Currency Group (DCG) to $3 billion, tripling the total fraud claims against the firms. The lawsuit alleges that Gemini and Genesis defrauded investors by assuring them their investments were safe, while Genesis' loans were actually risky and highly concentrated with FTX founder Sam Bankman-Fried's crypto hedge fund. The lawsuit also names former Genesis CEO Soichiro Moro and DCG founder and CEO Barry Silbert. Genesis is shutting down after filing for bankruptcy, and has reached a settlement with James' office to repay customers through the Chapter 11 process.
New York Attorney General Letitia James has expanded her lawsuit against Digital Currency Group and others, alleging a fraud scheme exceeding $3 billion, tripling the initial claim. The lawsuit involves the Winklevoss twins' Gemini Trust and their Genesis Global Capital unit, accused of misleading investors about the Gemini Earn program. James seeks over $3 billion in restitution for more than 230,000 defrauded investors, emphasizing the need for stronger cryptocurrency regulations. The defendants, including DCG, Genesis, and Gemini, have faced legal actions from multiple parties, with Genesis filing for bankruptcy and agreeing to a $21 million SEC fine.
New York Attorney General Letitia James has expanded her lawsuit against Digital Currency Group and other cryptocurrency defendants, tripling the alleged fraud scheme to over $3 billion. The lawsuit, initially claiming over $1 billion in losses, involves misleading investors about the Gemini Earn program. James seeks restitution for more than 230,000 investors who were allegedly defrauded, emphasizing the need for stronger cryptocurrency regulations. Representatives for the defendants did not immediately respond to requests for comment, and bankruptcy filings and legal actions by the SEC further complicate the situation.