Gemini Space Station, Inc. (NASDAQ:GEMI) co-founders Tyler Winklevoss and his twin brother Cameron could dump millions worth of Bitcoin (CRYPTO: BTC) on the market, on-chain analytics firm Arkham said on Tuesday.
Transaction Sparks Intrigue
In an X post, Arkham highlighted that a wallet tied to Winklevoss Capital, the family office of the Winklevoss twins, sent 1,750 BTC, worth $121 million as of this writing, to Gemini hot wallets, “presumably for selling.”
The wallet still holds 8,757 BTC, worth $751.86 million, with unrealized profit of $1.8 billion on the holdings.
Benzinga reached out to Gemini for a comment, but has yet to hear back.
Generous Donors Of Bitcoin
The Winklevoss twins made significant Bitcoin donations to promote the campaign of President Donald Trump and John Deaton, a pro-cryptocurrency candidate who ran against Sen. Elizabeth Warren (D-Mass.), during the 2024 election cycle. The brothers together donated $2 million in Bitcoin to support Trump.
The twins also donated Bitcoin worth $21 million last year to a political action committee supporting Trump’s vision of making the U.S. the “world’s cryptocurrency capital.”
Tyler and Cameron have an estimated net worth of $2.7 billion each, according to Forbes.
Price Action: At the time of writing, BTC was exchanging hands at $69,553.99, down 0.79% in the last 24 hours, according to data from Benzinga Pro.
Gemini shares were up 0.97% in overnight trading after closing 6.43% higher at $9.27 during Tuesday’s regular trading session.
Benzinga’s Edge Stock Rankings show the stock leading in short-term price trends but trailing in medium- and long-term performance.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo Courtesy: Rena Schild on Shutterstock.com
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