TLDR
- Winklevoss Capital moved 572 BTC worth $42.77 million from a Gemini hot wallet to custody addresses.
- Arkham Intelligence data showed the transfers occurred in two batches within 24 hours.
- The first transaction moved 372 BTC, and the second transferred 200 BTC about 11 hours later.
- Winklevoss Capital now holds 9,328 BTC valued at about $689 million.
- The firm’s bitcoin balance had previously fallen to its lowest level since 2012.
Winklevoss Capital shifted 572 BTC worth $42.77 million from a Gemini hot wallet into custody addresses within 24 hours. Arkham Intelligence data tracked two separate transfers into wallets linked to Winklevoss Capital and Gemini Custody. The activity followed a period when the firm’s bitcoin balance reached its lowest level since 2012.
Winklevoss Bitcoin Transfers Restore Holdings
Arkham Intelligence recorded two batches of bitcoin transfers within a single day. The first batch moved 372 BTC from a Gemini exchange wallet. About 11 hours later, a second batch moved 200 BTC to custody-linked addresses.
Both transactions originated from wallets that Arkham tagged as Gemini exchange addresses. The funds moved to addresses that Arkham labeled as belonging to Winklevoss Capital and Gemini Custody. The data confirmed direction of movement but did not state purpose.
After the transfers, Winklevoss Capital held 9,328 BTC across 128 tracked addresses. Those holdings equal about $689 million at current prices. The balance increased from about 8,800 BTC after last month’s $128.5 million deposit into Gemini.
That earlier deposit reduced the firm’s bitcoin holdings to their lowest level since 2012. The new transfers reversed part of that decline. However, Arkham’s dashboard did not clarify whether the transfers represent purchases or internal shifts.
Arkham stated that onchain data shows wallet flows rather than transaction intent. The transfers could reflect portfolio rebalancing or operational adjustments. They could also represent a partial reversal of the prior Gemini deposit.
Ether Holdings and Financial Pressure at Gemini
Winklevoss Capital also holds 70,588 ETH worth about $163.7 million. Arkham data placed the firm’s total tracked crypto portfolio near $853 million. Bitcoin and ether represent the largest share of those holdings.
Gemini Space Station operates under the leadership of Tyler and Cameron Winklevoss. Bloomberg reported that the company lost more than half its market value in 2026. The report also said the firm cut 30% of its workforce.
Gemini exited markets including the U.K., the European Union, and Australia. Bloomberg cited internal discussions about financial restructuring. The report said the Winklevoss brothers hold about $330 million in bitcoin-denominated loans to the company.
Bloomberg reported that executives have discussed converting that debt into equity. The report stated that the proposal remains under consideration. Gemini has not issued a public statement addressing those discussions.
The recent bitcoin transfers occurred during this period of operational change. Arkham’s data showed wallet movements but did not indicate strategic intent. The latest tracked balances place Winklevoss Capital at 9,328 BTC and 70,588 ETH.
