Loading organizations...
Gemini is a regulated cryptocurrency exchange and custodian based in New York, United States, that provides a compliant platform for users to securely trade and store digital assets. The company generates its revenue primarily through transaction fees collected on its trading platform, which facilitates the exchange of prominent digital currencies including Bitcoin. Operating with a global workforce of over 200 employees, the firm delivers institutional-grade infrastructure designed to meet the strict regulatory requirements of both retail investors and enterprise-level financial institutions. The platform has systematically expanded its operational footprint across several major international financial markets to capture global digital asset volume. It actively serves a diverse customer base across multiple regulated jurisdictions, including the United States, the United Kingdom, Canada, Australia, and Singapore. The organization was officially established in 2014 by co-founders Tyler Winklevoss and Cameron Winklevoss.
Gemini has raised $420.0M across 1 funding round.
Key people at Gemini.
Gemini was founded in 2014 by Cameron Winklevoss (Co-Founder & President) and Tyler Winklevoss (Co-Founder & CEO).
Gemini has raised $420.0M in total across 1 funding round.
Gemini has raised $420.0M across 1 funding round. Most recently, it raised $420.0M Series A in November 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2021 | $420M Series A | — | 9Yards Capital, Alumni Ventures, Archetype, Bain Capital Crypto, Cadenza Capital Management, Delta Blockchain Fund, Formic Ventures, Founders Fund, Galaxy Digital, Hambro Perks, Morgan Creek Capital Management, Pario Ventures, Plug & Play Ventures, William GUO, Valar Ventures, Wildcat Ventures, Winklevoss Capital, Alain Hanover, Anthony Pompliano, Hippolyte Genet, Jehan CHU, Matthew Dellavedova, Nelson CHU, Nico Rosberg | Announced |
Key people at Gemini.
Gemini is a New York-based cryptocurrency exchange founded by twins [Cameron Winklevoss](/people/cameron-winklevoss) and [Tyler Winklevoss](/people/tyler-winklevoss), now defined by its fight to recover from its failed Earn lending product. Launched in 2014, Gemini built its brand on regulatory compliance and security, positioning itself as a trustworthy, institutional-grade alternative to less-regulated rivals. This strategy, encapsulated by its "Trust is our Product" mantra, helped it attract cautious retail and institutional investors. However, the company's reputation for safety was shattered by the collapse of its high-yield Earn program, leading to a high-profile lawsuit from the [Securities and Exchange Commission](https://startupintros.com/orgs/securities-and-exchange-commission) and a protracted battle to repay its customers.
The exchange's significance, and its subsequent crisis, can be measured by the scale of its Earn program. The product, which involved lending customer assets to crypto firm [Genesis](https://startupintros.com/orgs/genesis-global-capital), held over $900 million from 232,000 users when Genesis froze withdrawals in late 2022. At its peak in a 2021 funding round, Gemini was valued at $7.1 billion, a figure that now seems distant as it struggles with reputational damage and diminished trading volumes, which often trail far behind competitors like [Coinbase](https://startupintros.com/orgs/coinbase). In a landmark settlement, Gemini agreed in early 2024 to return at least $1.1 billion to Earn customers, a figure that underscores the magnitude of the financial hole created by the product's failure.
The Gemini Earn disaster represents more than a product failure; it's a collapse of the core narrative the Winklevoss twins spent a decade building. Their entire public identity was staked on being the responsible, regulated stewards of the crypto ecosystem, a direct rebuke to the industry's chaotic image. By partnering with [Genesis](https://startupintros.com/orgs/genesis-global-capital), a subsidiary of Barry Silbert's [Digital Currency Group](https://startupintros.com/orgs/digital-currency-group), and offering an unregistered security that exposed retail customers to massive counterparty risk, the founders undermined their central claim. Their subsequent public feud with Silbert was a desperate attempt to deflect blame, but the damage was done. The episode suggests their "trust" branding was more a marketing strategy than an operational imperative, a critical vulnerability for any firm seeking to bridge the gap between traditional finance and crypto.
Gemini was founded in 2014 by Cameron Winklevoss (Co-Founder & President) and Tyler Winklevoss (Co-Founder & CEO).
Gemini has raised $420.0M in total across 1 funding round.
Gemini's investors include 9Yards Capital, Alumni Ventures, Archetype, Bain Capital Crypto, Cadenza Capital Management, Delta Blockchain Fund, Formic Ventures, Founders Fund, Galaxy Digital, Hambro Perks, Morgan Creek Capital Management, Pario Ventures.
