Winklevoss Twins Withdraw $42.77 Million in Bitcoin From Gemini, Keep Buying

JOON HYOUNG LEE

Summary

Arkham said the Winklevoss twins withdrew $42.77 million worth of Bitcoin from Gemini.
Arkham said the Winklevoss twins are also buying Bitcoin.
Arkham added that the Winklevoss twins' Bitcoin holdings have fallen to 8,800 coins, the lowest level since 2012.

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Tyler and Cameron Winklevoss, the founders of US cryptocurrency exchange Gemini, made a large Bitcoin withdrawal from the platform.

Blockchain analytics firm Arkham wrote on X on June 14 that the Winklevoss twins withdrew $42.77 million worth of Bitcoin from Gemini that day. Bitcoin withdrawals from exchanges are typically viewed as a sign of reduced intent to sell. Arkham added that the twins are also buying Bitcoin.

Their previous large Bitcoin transfer came about a month ago, when they deposited $128.5 million worth of Bitcoin into Gemini, according to Arkham. The firm added that the twins' Bitcoin holdings have fallen to 8,800 coins, the lowest level since 2012.

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