- Winklevoss twins lend $100 million to Gemini crypto exchange after failing to raise external funds.
- Gemini has faced numerous setbacks in the yearlong market downturn for digital assets.
- Venture funding for crypto startups has plummeted 80% to $2.4 billion in Q1 2023.
- Gemini faces lawsuits from SEC and CFTC over its Gemini Earn product and Bitcoin futures contract.
- Gemini's market share of global spot trading volume dropped to 0.13% from 0.20% a year ago.
Bloomberg — Business — Cryptocurrencies — Crypto — Finance — Investment
Winklevoss Twins Lend $100 Million to Their Gemini Crypto Platform
The Winklevoss twins lend $100m to their Gemini crypto platform after failing to raise external funds. Gemini faced several setbacks during the crypto downturn.