Winklevoss Shift $42.8M in Bitcoin as Gemini Shares Face May 18 Lawsuit Deadline
Winklevoss twins moved 572 Bitcoin worth $42.77 million from Gemini’s hot wallet into their custody wallets, leaving the exchange’s BTC holdings at a decade low of 9,328 coins. Shareholders must file lead plaintiff motions by May 18 for class-action claims over losses from the September 2025 IPO and secondary offerings.
1. Founders Move Large Bitcoin Holdings
On April 15, Gemini founders Tyler and Cameron Winklevoss transferred two batches of Bitcoin—372 BTC and 200 BTC—totaling 572 BTC valued at $42.77 million from the exchange’s hot wallet into Winklevoss Capital custody wallets. This shift reduces Gemini’s on-exchange Bitcoin reserves to 9,328 BTC, the company’s lowest level in over a decade, fueling speculation about potential sales or internal rebalancing.
2. Lawsuit Deadline for Shareholders
Gemini Space Station investors who purchased Class A shares in the September 12, 2025 IPO or subsequent offerings through February 17, 2026, have until May 18 to file lead plaintiff motions in a proposed securities fraud class action. The suit alleges misstatements in offering documents caused share losses, prompting a legal window for affected investors to seek damages.