Bloomberg: The Winklevoss brothers have provided a $100 million loan to Gemini

2023-04-11 07:44:14

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ChainCatcher news, according to sources cited by Bloomberg, Gemini co-founder [Winklevoss](https://www.rootdata.com/zh/Investors/detail/Winklevoss Capital?k=NDU3) brothers recently provided a $100 million loan to Gemini to support the exchange's operations during the market downturn. According to insiders, before providing this loan, the two brothers had informally sought financing from external investors but did not reach any agreements.

Previous reports indicated that after the collapse of FTX last year, the crypto lending institution [Genesis](https://www.rootdata.com/zh/Projects/detail/Genesis Trading?k=NDE5Mw==) under [DCG](https://www.rootdata.com/zh/Projects/detail/Digital Currency Group?k=NDQzNQ==) suspended withdrawals, resulting in the freezing of funds for Gemini Earn loan product customers. As part of a settlement agreement reached between DCG and creditors in February this year, Gemini stated that it would provide up to $100 million in cash to Earn users, but it remains unclear whether this $100 million loan is related to the $100 million promised to Earn users. (source link)

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