Gemini Announces Company Funds To The Public, Has Crypto Assets Worth IDR 72 Trillion

JAKARTA The crypto exchange company Gemini recently announced its savings in funds stored on the platform. Gemini has reserve funds worth US$4.6 billion (approximately Rp72 trillion) in crypto assets, plus US$601 million (approximately Rp9.5 trillion) to support the company's stablecoin, Gemini USD (GUSD).

For your information, Gemini is a crypto exchange based in New York, USA, founded in 2015 by twins Cameron and Tyler▁UUvos. The crypto trading company operates in a number of countries including the US, Canada, UK, South Korea, Hong Kong, and Singapore.

The announcement of the crypto company's funds follows the actions taken by a number of other crypto trading giants including Binance to show the transparency of the company after the bankruptcy of FTX.

Gemini currently ranks 11th as the world's leading crypto exchange company. Trading volume in today's gemini is around IDR 525,196,202,119, according to CoinMarketCap data.

Meanwhile, Gemini's reserves include $2.2 billion worth of Bitcoin, $1.7 billion in Ethereum, and $681 million in other crypto assets. Meanwhile, the company's fiat funds amounted to $542,892,356 stored in the bank and insured by the FDIC.

According to a recent report, Gemini also registered more than 45 relevant licenses across the US, UK, and Ireland. Licenses include a New York Trust license for virtual currencies granted in 2015, in addition to licenses for remittances in most US states. Gemini also holds licenses for virtual and e-money assets in the UK and Ireland.

"At any given time, Gemini is required to hold on to capital exceeding customer deposits and must report any material changes in this capital to NYDFS," Gemini said in a statement.