Bitcoin24h $71,521.28+2.12%

Ethereum24h $2,214.72+3.27%

XRP24h $1.35+1.19%

BNB24h $605.65-1.10%

Solana24h $83.47+0.63%

TRON24h $0.3178+0.98%

Dogecoin24h $0.0932+0.54%

Hyperliquid24h $39.02+3.83%

UNUS SED LEO24h $10.12+0.04%

Cardano24h $0.2530+1.70%

Gemini’s 10-K reveals loan loop between exchange and founders

Gemini’s 10-K, filed yesterday, laid out the exchange’s entire structure. Social media users called it a circular scheme.

CHART: Crypto IPO winners and losers

Cryptocurrency firms have been rushing to IPO, but only some have been able to increase their value since listing publicly.

Gemini’s new XRP Mastercard offers no new features, except “an innovative design for the XRP Army to show their allegiance.”

Tyler Winklevoss wanted to boast about Gemini outranking Coinbase in the Apple App Store, but he proved something else entirely.

Bullish and Gemini have used new accounting rules to make their net income/loss look even better, but the IPO was their main focus all along.