Analyst: Winklevoss Capital still has 4,619 BTC loans outstanding to Gemini

Arkham analyst Emmett Gallic posted on the X platform that the cryptocurrency exchange Gemini disclosed in its latest filing that as of December 31, 2025, it still has 4,619 BTC in loans outstanding to the related party Winklevoss Capital, amounting to approximately $314 million at current prices. The document shows that the annual interest rate for such loans is 4%–8%, and there is no fixed maturity date, but the lender can request repayment at any time with written notice.

Historically, Gemini has borrowed over 11,000 BTC and 133,000 ETH from Winklevoss Capital.