Winklevoss Twins Join Forces to Revive Gemini Exchange With $100M of Personal Funds
The Winklevoss twins, Tyler and Cameron, have come together to resuscitate their crypto exchange Gemini. To achieve this, they have reportedly injected $100 million of their personal funds into the exchange.
Gemini, originally founded in 2014, was one of the first regulated exchanges in the US. It is a cryptocurrency exchange and custodian that has been providing users with excellent services for some time now. Despite its steady trajectory and widespread recognition, the company reportedly encountered a period of financial difficulty this year due to an internal dispute.
To turn things around for Gemini, Tyler and Cameron Winklevoss sought help from their father Howard Winklevoss. Howard invested $25 million of his own money into the exchange alongside an impressive $75 million from his sons. This injection has since improved Gemini’s financial stability and brought back solvency.
In addition to securing additional funds, Howard also assumed a seat on Gemini’s Board of Directors with Tyler remaining CEO while Cameron serves as President. Together they will work collaboratively to revive the company and strengthen its status in the highly competitive crypto market.