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Crypto meltdown leaves Winklevoss Twins’ Gemini ‘severely tarnished’

By Olga Kharif

11 Jan 2023 · 6 min read

Editor's Note

The latest victim of the crypto winter: Gemini. Bloomberg chronicles the fall of Winklevoss Twins' crypto firm and how its customers have been left in the lurch.

The signs of a full-blown crisis were everywhere. Bitcoin was in free fall, hedge fund Three Arrows was blowing up and the fates of several high-profile crypto lenders were suddenly in doubt.

Yet as panic spread like wildfire last June, the Winklevoss twins, founders of the Gemini crypto exchange, hit the road with their rock band, Mars Junction. With Tyler on vocals and Cameron on guitar, they belted out hits like Don't Stop Believin,' appearing untroubled as other firms - propped up by easy money, rampant speculation and possibly even fraud - crumpled one after the next.

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