Gemini was launched as a licensed digital asset exchange and custodian, allowing customers to buy, sell, and store digital assets in a regulated, secure, and compliant manner. It was founded in 2014, by identical twins Cameron and Tyler Winklevoss and is based in New York.
Cameron and Tyler's careers have followed the same trajectory. They both competed in the men's pair rowing event at the 2008 Summer Olympics and co-founded HarvardConnection (later renamed ConnectU), an early version of Facebook, for connecting students. In 2012, they founded Winklevoss Capital Management. The family firm invests across multiple asset classes, with an emphasis on providing seed funding and infrastructure to early-stage startups and is a primary investor in Gemini.
From the outset, Gemini was intended to be a next-generation exchange, fully regulated, fully compliant, and accessible to individuals and institutions. The company went live on October 25, 2015, and began expanding the financial services it offered soon after, some of which include Financial Information Exchange (FIX) and Application Program Interface (API) support.
Gemini was one of the first exchanges to regulated by the New York State Department of Financial Services (NYSDFS). In 2016, the company said it would allow users to withdraw Ethereum Classic (ETC) from the exchange, following a hard fork in Ethereum's code. In April 2018, Reuters reported that Gemini would utilize NASDAQ's SMARTS technology to monitor trades, combatting potential fraudulent activity and price manipulation on its exchange.Read More