Gemini considers converting the Winklevoss Brothers loan into equity

Bloomberg has revealed that Gemini Space Station Inc. is considering waiving hundreds of millions of dollars in loans from co founders Tyler Winklevoss and Cameron Winklevoss, and may convert them into additional equity. Gemini incurred a loss of $585 million last year, carrying 4619 Bitcoin debts worth over $330 million. It has laid off approximately 30% of its workforce and exited the UK, EU, and Australian markets. The Winklevoss brothers control the majority of voting shares and have not yet stated whether they support the proposal.