off-the-wire

Winklevoss twins lend $100 million to Gemini - Bloomberg News

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 10 (Reuters) - Billionaires Tyler and Cameron Winklevoss have made a $100 million loan to support their crypto exchange Gemini Trust Co, Bloomberg News reported on Monday, citing people familiar with the matter. The move came after Gemini had informally sought funding from outside investors in recent months without coming to any agreements, according to the report.


Gemini did not immediately respond to a Reuters request for comment. Venture funding in crypto-related companies has dried up due to recent failures of FTX and Silvergate Capital and a slowdown in the tech sector.


(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Anil D'Silva)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.