Winklevoss Crypto Firm’s Employees Saw the Disaster Coming

Dec 8 2022 by The Daily Beast

 
Illustration by Luis G. Rendon/The Daily Beast

Marketing materials depicted a tantalizing opportunity: Users of Gemini—the cryptocurrency exchange founded by identical twins Cameron and Tyler Winklevoss—could hand over their digital assets to a product called Earn. The assets would then be loaned out, generating returns as high as 7.4 percent per year. Feeling nervous? Gemini promised investors they could redeem their crypto “at any time…plus the interest you’ve earned!” To some,...

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