Tyler and Cameron Winklevoss founded New York-based Gemini in 2014 after struggling to find a safe place to hold their cryptocurrency. Since its founding, Gemini has operated on four key pillars: product, security, licensing, and compliance. Its goal is to establish and maintain user trust by offering a secure, compliant crypto exchange platform.

Working on the core principles of security, liquidity, and trust, Gemini offers its retail and institutional customers a platform to buy, sell, and store digital currencies in a regulated and secure environment. It is licensed by the New York State Department of Financial Services (NYDFS) to hold a customer's digital assets in trust on behalf of the customer. That is, your digital currency holdings are held to reserve requirements and banking compliance standards. Gemini is also obligated to maintain and fulfill required cybersecurity measures. Gemini has a banking relationship with a New York State-chartered bank, State Street, where all customer funds are retained

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In January 2023, Genesis Global Capital filed for Chapter 11 bankruptcy. A few days before that, the U.S. Securities and Exchange Commission charged Gemini and Genesis with illegally raising funds from retail investors via the now-terminated Gemini Earn program.
Users deposited crypto in an Earn account and loaned it to Genesis in exchange for interest payments. Gemini paused account withdrawals in November 2022 because Genesis lacked sufficient funds to meet withdrawal requests.