Billionaire twins Tyler and Cameron Winklevoss recently lent $100M to their cryptocurrency exchange Gemini Trust in the wake of a market downturn that bruised the firm on several fronts, Bloomberg reported Monday, citing two people familiar with the matter. Gemini was particularly hit hard when its crypto lending partner, Genesis Global, filed for bankruptcy protection amid the fallout from FTX's ( FTT-USD ) demise late last year. Months later, the U.S. Securities and Exchange Commission sued Genesis and Gemini for allegedly selling unregistered securities to retail investors through Gemini's high yield crypto lending product Earn. The brothers tried to get external investment for Gemini, but no agreements were finalized, three people told Bloomberg . The Winklevoss loan was said to go toward funding operations. Shortly after getting charged by the SEC, Gemini laid off 10% of its workforce, adding to a string of job cuts in June.
