As per reports, Tyler and Cameron Winklevoss, co-founders, Gemini, a United States-based cryptocurrency exchange, have contributed from Gemini for funding business during the crisis of the crypto market, stated Cointelegraph.
According to reports by Cointelegraph, on April 10, 2023, the Winklevoss twins took a personal loan of about $100 million for Gemini in order to get investments from other investors. It is expected that Gemini was reached for further details but it declined the offer.
Sources revealed that Gemini was charged by the U.S. Securities and Exchange Commission for providing opportunities for unregistered securities with the help of the exchange’s Earn program. It is expected that New York’s Department of Financial Services has started to investigate the reports by Gemini users, they stated that the possessions in their Earn accounts have been covered by FDIC protection, Cointelegraph concluded.
(With insights from Cointelegraph)