Winklevoss twins injection funds worth $ 100 million in twins

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Gemini hat es bisher geschafft, den Krypto-Winter zu überstehen, wenn auch zu einem hohen Preis. Die Krypto-Börse führte im vergangenen Jahr zwei Entlassungsrunden durch, um die Betriebskosten zu senken. Cash flow Probleme Der Cashflow der Krypto-Börse wurde auch stark durch die Auseinandersetzung mit Genesis beeinträchtigt, die rund 900 Millionen US-Dollar an Kundengeldern einsperrte. Die Partnerschaft von Gemini mit Genesis bei seinem Produkt Earn hat sie auch von der SEC unter Beschuss genommen, die beide Plattformen wegen angeblicher Verstöße gegen das Wertpapierrecht verklagte. Erschwerend kommt hinzu, dass Gemini auch seinen COO, Noah Perlman, verlor, der inzwischen Chief Compliance Officer von Binance …
Gemini has so far managed to survive the crypto winter, albeit at a high price. The crypto exchange carried out two rounds of discharge last year to reduce operating costs. Cash Flow Problems The Cashflow of the crypto exchange was also severely affected by the examination of Genesis, which blocked around $ 900 million in customer funds. She also shot from the SEC's partnership of Gemini with Genesis with his product Earn, which sued both platforms for alleged violations of securities law. To make matters worse, Gemini also lost his COO, Noah Perlman, who has meanwhile Chief Compliance Officer from Binance ... (Symbolbild/KNAT)

So far,

Gemini has managed to survive the crypto winter, albeit at a high price. The crypto exchange carried out two rounds of discharge last year to reduce operating costs.

cash flow problems

The cash flow of the crypto exchange was also severely affected by the examination of Genesis, which blocked around $ 900 million in customer money.

The partnership of Gemini with Genesis in his product Earn also shot from the SEC, which sued both platforms for alleged violations of securities law. To make matters worse, Gemini also lost his COO, Noah Perlman, who has now become Chief Compliance Officer of Binance.

Although this disagreement was supposedly included, the customer funds are still in the floating at the moment. As part of the deal with Genesis, the Winklevoss twins will provide investments of up to $ 100 million. According to reports, however, the current financial injection is not related to the Genesis rescue fund.

Instead, the funds from the private assets of the Winklevoss twins are used according to a non-mentioned source for equipment.

VC financing has dried out

The decision to defend themselves without further ado was made after the crypto mogul pair had carried out an informal fundraising attempt that did not find any buyers, three Bloomberg sources, which were about the condition of anonymity.

The inability to secure financing for a company that only raised $ 400 million two years ago shows the uncertainty that spreads among VC investors in relation to blockchain-centered companies.

The amount that was invested in these companies in the past quarter is about $ 2.4 billion. Not a insignificant sum, it fades compared to the sum invested a year ago - 80 % less to be precise.

Since the external financing is becoming increasingly scarce and the emergency solution that Gemini has already taken could not stop the bleeding, the Winklevoss twins used to support Gemini's barres reserves on his own pocket. With a little luck, the twins' decision to use their money where her mouth is, encourage other VC investors to support Gemini until the current economic situation turns to the better

So far, neither the twins nor Gemini have answered on inquiries about comments.

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