Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The Winklevoss twins may be dumping Bitcoin amid the asset’s recent rout, according to blockchain analytics company Arkham. A wallet labeled as belonging to Cameron and Tyler Winklevoss moved $130 million worth of Bitcoin to a deposit wallet on their Gemini (NASDAQ:GEMI) cryptocurrency exchange "presumably to sell," Arkham reported on March 10. Following the transfer, the wallet linked to Cameron and Tyler still holds $637 million in BTC.
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• Designed for investors with strong market convictions, REX Shares builds ETFs for income, leverage, and tactical positioning — explore the lineup. Cameron and Tyler could not immediately be reached for comment. Gemini did not immediately respond to a request for comment from Benzinga. The reported move comes as Bitcoin has fallen over 40% from its price record of $126,000 in October to most recently trade near $73,000. Tyler in September told CNBC that he and his brother saw Bitcoin disrupting gold and reaching $1 million. Cameron and Tyler Winklevoss once controlled 1% of the circulating Bitcoin supply, Arkham said, adding that their total profit from the asset has reached $1.8 billion. Trending: Build your own AI-powered index in minutes — and earn an uncapped 1% match when you move your portfolio to Public. Learn how it works. The brothers first purchased $11 million worth of Bitcoin in 2013 when the asset traded at $120, a stash that would be worth nearly $7 billion at today’s prices. They reportedly used a portion of the profit to launch Gemini. The company’s stock was most recently trading at $8, down nearly 80% from its Nasdaq debut price of $37 amid decisions to leave the UK, the EU and Australia. The company has also recently cut its staff by 25%.
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