TechFlow News, April 11: According to Bloomberg, Gemini (GEMI), the cryptocurrency exchange founded by the Winklevoss twins, has seen its market valuation decline by more than 50% this year. Its stock price has fallen over 50% year-to-date, and the company has laid off approximately 30% of its workforce while exiting major overseas markets including the UK, the EU, and Australia—significantly increasing its financial pressure.
According to sources familiar with the matter, Gemini is internally discussing a proposal to request that the founders—the Winklevoss twins—either waive or convert into equity approximately $330 million in loans they extended to the company. These loans were primarily provided through Winklevoss Capital Fund LLC. As of December 31, 2025, Gemini still owed 4,619 bitcoins—valued at over $330 million at the time. As the company’s primary controlling shareholders, the twins’ agreement to such a move would directly impact Gemini’s capital structure.
Following the report’s publication, Gemini’s stock price rose nearly 9% intraday, though it remains sharply down for the year. The company has previously weathered executive departures, a strategic pivot toward prediction markets, and shareholder lawsuits; this latest focus on loan restructuring again highlights the ongoing impact of the crypto winter on exchanges.
