[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"1da62d10-a67e-4ae2-a09d-e00b70c6a586","updated_at":"2023-04-11T07:11:54.488979+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"The Winklevoss brothers, who are the founders of Gemini, have provided the company with a loan of $100 million. The loan is aimed at supporting the company's growth objectives and improving its infrastructure.","sapo":"Gemini has been granted a $100 million loan by its founders, the Winklevoss brothers. The loan is intended to support Gemini's expansion plans and enhance its infrastructure.","title":"Gemini Has Been Granted A Loan Worth $100 Million by Winklevoss Brothers","content":"

According to a report by Bloomberg News on April 10th, the Winklevoss brothers, who are co-founders of the cryptocurrency exchange Gemini, have provided a loan to the company.

Gemini was founded in 2015 by the Winklevoss twins. Tyler Winklevoss remains as the CEO of Gemini, while his brother Cameron Winklevoss holds the position of the company's president.

According to the most recent report, several unidentified sources have claimed that the brothers extended a loan of $100 million to the exchange.

While Gemini and the Winklevoss brothers have not confirmed the loan, two people have stated that it did occur. In contrast, three people have claimed that Gemini was not successful in obtaining funds from external investors.

Gemini has faced several adverse developments in the past year. In November 2022, after the FTX cryptocurrency exchange collapsed, the company suspended withdrawals for its Earn product, which was developed in partnership with Genesis. Eventually, the service was entirely terminated, and the company is still in the process of returning funds to affected users.

In February, Gemini also provided $100 million to assist users of the Gemini Earn product in recovering their lost funds. Although Cameron Winklevoss made the announcement about this funding decision, it remains uncertain whether the funds came from personal or corporate sources.

Over the course of eight months ending in January 2023, Gemini reduced its workforce by significant percentages. The company eliminated 10% of its staff, followed by a reduction of 15%, and then another 10%.

","tags":[{"tag":{"tag":"Gemini","id_tag":"gemini"}},{"tag":{"tag":"Winklevoss","id_tag":"winklevoss"}},{"tag":{"tag":"crypto","id_tag":"crypto"}},{"tag":{"tag":"Genesis","id_tag":"genesis"}},{"tag":{"tag":"FTX","id_tag":"ftx"}}],"image":{"fileName":"Gemini-Has-Been-Granted-A-Loan-Worth-$100-Million-by-Winklevoss-Brothers.png"}}]

Gemini Has Been Granted A Loan Worth $100 Million by Winklevoss Brothers

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