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From Harvard to Bitcoin: The Winklevoss Origin Story
Cameron and Tyler Winklevoss first gained fame through their legal battle with Mark Zuckerberg over Facebook's origins, a story immortalized in The Social Network. After settling for $65 million, they pivoted from Olympic rowing to pioneering the crypto space, investing heavily in bitcoin as early as 2012.
Likely alone among crypto billionaires, the Winklevoss twins have competed in the Olympics.
Building Gemini: A Bridge Between Wall Street and Crypto
In 2014, the twins launched Gemini, a cryptocurrency exchange designed to bring legitimacy to the crypto industry. Unlike other exchanges, Gemini sought regulatory approval early, becoming one of the first licensed by the New York Department of Financial Services. Their efforts included introducing features like daily bitcoin auctions and institutional-grade custody products.
Bitcoin Holdings and Market Influence
The twins are rumored to own 1% of all bitcoin in circulation, around 70,000 BTC. Their influence extends beyond holdings; through Winklevoss Capital, they've invested in over 20 crypto projects, including Ethereum and Filecoin. Their public statements, like predicting bitcoin could reach $1 million, often move markets.
Controversies and Challenges
Despite their success, the twins faced setbacks. Gemini's Earn program was hit hard during the 2022–2023 crypto loan crisis, leading to frozen funds and regulatory scrutiny. They also faced investigations over Bitcoin futures contracts.
Political Influence and Future Ambitions
The twins have become key crypto advisors to the Trump administration, donating $1 million in Bitcoin to his campaign. They continue to shape the industry, with Gemini's confidential IPO filing signaling their ambition to take the exchange public.
Their journey from a $65 million settlement to a crypto empire worth billions underscores their enduring influence in the crypto world.
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