Gemini

Gemini exchange is a centralized cryptocurrency exchange (CEX) started in 2014 by the Winklevoss Twins, Cameron and Tyler.

Gemini allows you to buy and sell bitcoin (BTC), along with 100+ other digital assets.

Gemini is also known for offering a stablecoin called Gemini dollar (GUSD), which is pegged 1:1 to the U.S. dollar.

The U.S. dollars that back each Gemini dollar are held in U.S. FDIC-insured banks.

The exchange is based in New York, and as such, is regulated by the New York State Department of Financial Services (NYDFS).

Gemini is known for being available in all 50 U.S. states and for its focus on offering industry-leading security measures and asset insurance.

Gemini also offers services to businesses and institutional clients, including institutional custody, electronic clearing, and settlement of off-exchange crypto trades.

As of August 2022, Gemini is the 4th largest U.S.-based crypto exchange by volume, with USD $76 million in daily trading volume

Related Terms

Gemini Dollar (GUSD)

A stablecoin that is FDIC- insured, and backed 1:1 with the US dollar. Gemini Dollar (GUSD) was created by Gemini, a secure and regulated centralized cryptocurrency exchange (CEX).

Digital Currency Group (DCG)

A U.S.-based conglomerate of 7 cryptocurrency-focused companies, including Genesis, Grayscale, Coindesk, Foundry, TradeBlock, and HQ. DCG’s mission is to incubate, acquire and operate businesses that provide financial and professional services to financial institutions, corporations, and startups.

FTX

FTX is a centralized cryptocurrency exchange (CEX) headquartered in The Bahamas and founded by Sam Bankman-Fried and Gary Wang in 2019. On November 11th, 2022, FTX filed for Chapter 11 bankruptcy and appointed a new CEO, Jon Ray. Sam Bankman-Fried stepped down as CEO amid accusations of mishandling $10 billion in FTX customer funds by transferring them from the exchange to his hedge fund, Alameda Research, to help fund floundering operations.

Changpeng Zhao (CZ)

Changpeng Zhao, also known simply as CZ, is a Chinese-Canadian entrepreneur most well known as the founder and CEO of Binance, the world’s largest cryptocurrency exchange. After the collapse of FTX, and after committing $2b BUSD to a recovery fund to help distressed crypto assets, CZ is seen by some as the new savior or white knight of rypto.

Flippening

Te point in time when Bitcoin (BTC) loses its throne atop the cryptocurrency mountain of market capitalization and hands the reins to Ethereum (ETH). Nobody knows when this will happen or if it will ever happen.