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Winklevoss Capital transfers $43 million in bitcoin to custody following lowest balance recorded since 2012.
Arkham data indicates that 572 BTC were transferred from Gemini’s hot wallet to Winklevoss custody addresses in two transactions over 17 hours, partially reversing last month’s $128.5 million deposit.
Tyler and Cameron Winklevoss (Jesse Hamilton/CoinDesk)
Key details:
- Winklevoss Capital transferred 572 bitcoin, valued at approximately $42.8 million, from a Gemini hot wallet into custody wallets in the past 17 hours, marking the first notable inflow in over a month.
- The fund currently possesses 9,328 bitcoin and 70,588 ether across 128 addresses monitored by Arkham, totaling an onchain portfolio valued at about $853 million.
- Gemini Space Station, the cryptocurrency exchange established by the Winklevoss twins, has seen its market value decline by over half this year, reduced its workforce by 30%, exited multiple markets, and is considering converting around $330 million of insider bitcoin loans into equity, as reported by Bloomberg.
According to Arkham Intelligence data, 572 bitcoin, valued at $42.77 million, were transferred from a Gemini hot wallet to Winklevoss Capital and custody wallets in the last 24 hours, representing the first substantial transfers to the fund’s addresses in over a month.
The transfers occurred in two separate batches: one of 372 BTC and another of 200 BTC roughly 11 hours later. Both transactions originated from addresses identified by Arkham as associated with the cryptocurrency exchange and were sent to addresses marked as belonging to Winklevoss Capital and Gemini Custody.
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Winklevoss Capital now holds 9,328 BTC worth $689 million across 128 monitored addresses, an increase from approximately 8,800 BTC following a $128.5 million deposit into Gemini about a month ago, which had reduced holdings to their lowest level since 2012.
Additionally, the fund has 70,588 ETH valued at $163.7 million, bringing its total monitored portfolio to around $853 million, as indicated by Arkham data.
The onchain data reveals the movement of assets but does not clarify the intent behind the transfers. These transactions may signify new acquisitions, internal adjustments between Gemini’s exchange and custody systems, or a partial reversal of last month’s deposit.
Gemini Space Station (GEMI), founded by Tyler and Cameron Winklevoss, is currently experiencing significant financial challenges this year.
According to Bloomberg’s report last week, the company has lost over half of its market value in 2026, laid off 30% of its staff, and exited markets such as the U.K., EU, and Australia.
The Winklevoss brothers have approximately $330 million in outstanding bitcoin-denominated loans to the business, and one potential internal discussion revolves around converting this debt into equity, as reported by Bloomberg.
