Winklevoss firm to return $1.1bn to customers

The Winklevoss twins’ cryptocurrency exchange firm Gemini has announced that it will be returning $1.1 billion to its customers. The move comes after the firm was fined by regulators for violating money laundering and cybersecurity laws. Gemini has stated that the funds will be returned to customers over the next few months in order to comply with regulators’ orders.

This is a significant step for Gemini as it works to rebuild trust with its customers and regulators. The firm has stated that it is committed to strengthening its compliance measures and ensuring the security of its platform moving forward.

Overall, this move by Gemini demonstrates the importance of regulatory compliance in the cryptocurrency industry and highlights the need for firms to take their responsibilities seriously in order to protect investors and maintain the integrity of the market.