Winklevoss firm to return $1.1bn to customers

The Winklevoss twins’ cryptocurrency exchange, Gemini Trust Company LLC, has been ordered to pay $1.1 billion to a joint venture between a construction company and a New York contractor after a judge ruled in the venture’s favor in a contract dispute.

The judge said that Gemini Trust Company LLC, owned by Tyler and Cameron Winklevoss, must return the $1.1 billion that the joint venture had invested in their exchange.

This ruling came after a long legal battle between the two parties, with the joint venture arguing that Gemini Trust had breached a contract by failing to provide certain services and support as promised.

With this ruling, Gemini Trust will now have to return the $1.1 billion to the joint venture, which could have significant financial implications for the cryptocurrency exchange.