Plain English
Gemini is a US crypto exchange founded in 2014 by Cameron and Tyler Winklevoss. Holds a NY DFS trust charter — a stricter framework than money-transmitter licenses used by Coinbase. Operates the GUSD stablecoin and Gemini Custody, a qualified custodian for institutional clients.
How it actually works
Active Trader interface charges 0.20%/0.40% maker/taker with volume discounts; retail “Gemini Mobile” fees are higher. Maintains $200M+ insurance on hot wallet balances and uses MPC/multi-sig cold storage. Earn program (Gemini Earn) collapsed in 2022 due to Genesis exposure; standalone exchange operations remained solvent.
What it means for you
Gemini is best-in-class for regulatory comfort and institutional custody. For HNW principals seeking US-based custody under a trust charter rather than money-transmitter rules, Gemini Custody is a viable alternative to Coinbase Custody and BitGo. Avoid yield products without understanding the underlying counterparty.
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Educational content only. Not investment, tax, or legal advice.