So, Who Are Cameron and Tyler Winkelvoss?

 "Crypto exchange Gemini Trust Co. lacked proper safeguards that resulted in retirement-account holders losing around $36 million in Bitcoin and Ether when the master key got hacked, IRA Financial Trust said in a new lawsuit [in U.S. District Court for the Southern District of New York]. [Allegedly] Gemini, a crypto exchange founded by Cameron and Tyler Winkelvoss, made false representations about two-factor authentication and other protections that were supposed to safeguard customer accounts..." - Bloomberg Law, June 6, 2022.

The lawsuit is "IRA Financial Trust v Gemini Trust Co." Here is, thanks to Bloomberg Law, is a copy of the complaint.

In addition, both IRA and Gemini are facing class action lawsuits from customers whose accounts had been hacked. 

But there is even more legal trouble for Gemini. As Bloomberg Law reported earlier, the US Commodity Futures Trading Commission sued Gemini. That was allegedly for misleading the regulator for derivatives. That was allegedly in order to establish the first-ever regulated Bitcoin futures contract. 

There are more troubles for the Winklevoss Twins. Those of business ones. 

Like others in the crypto industry, their enterprise has hit a rough patch. As TechCrunch reports, the two leaders don't anticipate any let-up in the market turbulence any time soon. Meanwhile, Gemini has laid off 10% of the workforce. Its competitor Coinbase has even gone so far as snatched-back job offers.

At one time the Twins represented stern rectitude. In "The Social Network," they were the good guys, but plenty nerdy. Mark Zuckerberg was the bad now, but cool. Now, one wonders what the two are really about.

Connect with Editor-in-Chief Jane Genova at janegenova374@gmail.com. She helps businesses conjure up magic in their storytelling. One client said, "She makes shipping containers ‘sexy.’"

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