Winklevoss Twins Move $130M in Bitcoin to Gemini Hot Wallets: Arkham
Cameron and Tyler Winklevoss transferred about $130 million worth of Bitcoin to Gemini hot wallets in the past week, according to Arkham, prompting speculation of a potential sale as Bitcoin traded near $70,720. While Arkham suggested the transfers may indicate sell-side positioning, neither Winklevoss twin has confirmed the purpose. Transfers to exchange wallets are typically seen as precursors to sales, though they may also serve other purposes such as providing exchange liquidity or custody rebalancing. After the transfers, the twins reportedly still hold approximately $764 million in Bitcoin, with an estimated aggregate profit of $1.8 billion from their holdings. Gemini stock recently rebounded from a February low of $5.82 to about $8.71, following executive departures, staff layoffs, exits from European and Australian markets, and a strategic pivot to prediction markets and AI-driven efficiency.
