Gemini, the Winklevoss brothers’ crypto exchange and custodian, has seen a surge in withdrawals as crypto firms grapple with the fallout from the FTX-Alameda bankruptcy and subsequent contagion in the digital asset industry. According to data from blockchain intelligence platform Nansen, Gemini saw $485 million in net outflows in the last 24 hours, the highest among crypto exchanges. Outflows totaled $563 million, with inflows totaling only $78 million. Gemini experienced a total of $682 million net outflows over the last seven days – the difference between $866 billion inflows and $1.55 billion inflows provided by Nansen – implying that the majority of the withdrawals occurred on Wednesday.
