Winklevoss Capital moves $43 million in bitcoin to custody after hitting lowest balance since 2012

Arkham data shows 572 BTC moved from Gemini's hot wallet to Winklevoss custody addresses in two transactions in 17 hours, reversing part of last month's $128.5 million deposit.

What to know:

• Winklevoss Capital moved 572 bitcoin, about $42.8 million, from a Gemini hot wallet into custody wallets over the past 17 hours, the first major inflow in more than a month.
• The fund now holds 9,328 bitcoin and 70,588 ether across 128 addresses tracked by Arkham, giving a total onchain portfolio of roughly $853 million.
• Gemini Space Station, the crypto exchange founded by the Winklevoss twins, has lost more than half its market value this year, cut 30% of its staff, exited several markets and is weighing converting about $330 million of insider bitcoin loans into equity, according to Bloomberg.

Some 572 bitcoin worth $42.77 million moved from a Gemini hot wallet into wallets owned by Winklevoss Capital and custody wallets in the past 24 hours, according to Arkham Intelligence data, the first significant transfers into the fund's addresses in over a month.

The transfers came in two batches. One of 372 BTC and one of 200 BTC about 11 hours later. Both moved from addresses tagged by Arkham as belonging to the crypto exchange to addresses tagged as Winklevoss Capital and Gemini Custody.

Winklevoss Capital now holds 9,328 BTC worth $689 million across 128 tracked addresses, up from about 8,800 BTC after a $128.5 million deposit into Gemini roughly a month ago that brought holdings to their lowest level since 2012.

It also holds 70,588 ETH worth $163.7 million, bringing its total tracked portfolio to approximately $853 million, the Arkham data show.

The onchain data shows the direction of movement, not the intent. The transfers could reflect new purchases, internal rebalancing between Gemini's exchange and custody infrastructure, or a partial reversal of last month's deposit.

Gemini Space Station (GEMI), founded by Tyler and Cameron Winklevoss, has faced mounting financial pressure this year.

Bloomberg reported last week that the company has lost more than half its market value in 2026, cut 30% of its workforce and exited markets including the U.K., EU, and Australia.

The Winklevoss brothers have roughly $330 million in outstanding bitcoin-denominated loans to the company, and one idea being discussed internally involves converting that debt into equity, Bloomberg said.

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