Winklevoss Twins Fund Gemini's $324M Bitcoin Treasury

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has built up a significant corporate Bitcoin treasury. According to data, the company holds around 5,528 BTC, worth approximately $324 million at current prices.

The majority of this position, about 80%, was financed through borrowing from the twins themselves. This means that the founders are essentially lending Bitcoin to their own company to expand its balance sheet.

This arrangement raises questions about transparency and governance within Gemini. As controlling shareholders, public advocates, and largest Bitcoin creditors, the Winklevoss twins have a significant influence over the exchange's operations.