Tyler Winklevoss News

Tyler and Cameron Winklevoss, co-founders of the United States-based cryptocurrency exchange Gemini, have reportedly dipped into their own pockets to fund the business amid the crypto market downturn.

Toku, a startup specializing in token-based payroll and tax compliance, has successfully raised $20 million in funding. The company's unique approach is designed to assist crypto businesses in maintaining regulatory compliance amidst increased scrutiny from regulators. With its innovative solutions, Toku aims to provide a much-needed helping hand to the crypto industry during these uncertain times.

Web3 app developer Kresus has closed a $25 million funding round to support the development of its so-called SuperApp, potentially opening the door to broader consumer adoption of digital assets. 

In a Twitter thread posted on Jan. 25, Duncan Cock Foster and Griffin Cock Foster, co-founders of nonfungible token (NFT) auction platform Nifty Gateway, announced their resignations effective immediately. In supporting the decision, Duncan said they were leaving because “Griffin and I are founders at heart, and we want to start another company.”

The SEC’s filed complaint alleges that Gemini and Genesis’ crypto asset lending program, Gemini Earn, facilitated the offer and sale of unregistered securities to retail investors, allowing both firms to raise billions of dollars’ worth of crypto assets. The enforcement action outlines how the crypto asset-lending scheme allowed its customers to tender their crypto tokens to Genesis in exchange for an attractive interest rate. Gemini charged agent fees on these transactions (up to 4.29%). In November 2022, Genesis announced it would not allow Gemini Earn customers to withdraw their crypto assets as it lacked sufficient liquidity to meet withdrawal requests. At the time of this statement Genesis held approximately $900 million in investor assets from over 300,000 Gemini Earn investors. Genesis’ parent company Digital Currency Group (DCG) is considering selling assets to raise money to pay off the more than $3 billion it owes to creditors. Earlier this month, Gemini ended the Gemini Earn program, with retail investors still unable to withdraw their assets. Tyler Winklevoss, Gemini CEO, took to Twitter to respond to the SEC’s Thursday filing, stating: "It’s disappointing that the @SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds. This action does nothing to further our efforts and help Earn users get their assets back. Their behavior is totally counterproductive […] It’s disappointing that the @SECGov chose to file an action today as @Gemini and other creditors are working hard together to recover funds. This action does nothing to further our efforts and help Earn users get their assets back. Their behavior is totally counterproductive.”

Tyler Winklevoss, the co-founder of cryptocurrency exchange Gemini, has hit out at the regulator charging the exchange over issuing unregistered securities, calling the allegations "super lame" and a "manufactured parking ticket."

You can get into crypto any time you like, but can you ever leave? A fierce $900 million Bitcoin feud between the billionaire Winklevoss twins and Barry Silbert suggests the virtual currency bubble’s main legacy is a version of Hotel California, with clients desperately hoping for fresh money to pick up the tab — or a change in management that will let them check out.

The bear market and the wave of bankruptcies in the crypto industry drained $116 billion from the pockets of founders and investors in the past nine months, according to recent estimates by Forbes. 

Bitcoin (BTC) held gains above $21,000 into Nov. 5 as the U.S. dollar posted a rare major daily decline.

Cameron Winklevoss, a co-founder of cryptocurrency exchange Gemini, has stepped down from the European company board of directors, according to a Companies House filing from Oct. 12.

MakerDAO [MKR] received a proposal revolving around a partnership from leading cryptocurrency exchange Gemini on 29 September. 

Deriving their names from the size of the massive mammals swimming around the earth’s oceans, cryptocurrency whales refer to individuals or entities that hold large amounts of cryptocurrency. 

The crypto industry has witnessed a massive downturn, losing about $2 trillion in value since hitting a peak in November.

Citing sources, TechCrunch says that Gemini has reduced its headcount by 68 due to "extreme cost cutting". The move comes just weeks after founders Cameron and Tyler Winklevoss announced a 10% reduction in the workforce, blaming a “crypto winter” compounded by wider "macroeconomic and geopolitical turmoil".

Cameron and Tyler Winklevoss’ Gemini has reportedly laid off additional staff more than a month after reports suggested the cryptocurrency exchange cut 10% of its employees.

US CFTC sues crypto exchange Gemini over 2017 statements

Crypto winter is coming - or perhaps it is already here - as the last month has shown the industry has been frostbitten.

The United States Commodity Futures Trading Commission (CFTC) filed suit against Gemini Trust Co. in the U.S. Southern District Court of New York on Thursday. The CFTC claimed in the civil suit that Gemini made false or misleading statements to the CFTC in 2017 during in-person meetings and in documents, violating the Commodity Exchange Act and other regulations. 

Gemini, a cryptocurrency trading platform founded by brothers Cameron and Tyler Winklevoss, is the latest industry firm to lay off a significant part of its staff due to unfavorable market conditions.

The number of cryptocurrency owners has massively increased last year, with nearly half of all owners worldwide buying crypto for the first time in 2021, according to a new report.

Digital payment platform Paxful has partnered with nonprofit organization Built With Bitcoin Foundation and Miami Mayor Francis Suarez to advance a new education initiative centered around Bitcoin (BTC) and financial literacy.