what is the gemini exchange 
gemini is a global cryptocurrency exchange founded in 2014 the gemini exchange also known as the gemini trust company is the brainchild of cameron and tyler winklevoss the famous investors twins and harvard classmates of mark zuckerberg understanding the gemini exchangethe winklevoss brothers announced the launch of gemini in early 2014 although the exchange did not go live until october 2015 as of q2 2022 gemini operates in more than 60 countries including the u s u k and canada 1 like other digital currency exchanges gemini allows users to buy and sell various digital currencies either with digital currency for example using bitcoin to buy litecoin or using fiat currency like u s dollars to buy digital currencies gemini is the astrological sign representing twins gemini productsgemini boasts a diverse range of products for small investors and advanced traders offering features like charting and instant trades gemini exchange is gemini s platform for buying and selling cryptocurrency it is available both through web browsers and as an app the mobile app also includes the gemini wallet which allows users to pay for goods using their crypto holdings for advanced traders gemini offers its active trader platform according to its website the platform features advanced charting multiple order types auctions and block trading they also claim to be able to execute orders in microseconds but that may depend on how you define execute and what kind of cryptocurrency you re trading the gemini custody product is both a cold storage system for assets held by gemini and a crypto native finance platform the custody product is unique in providing insurance coverage of 200 million for crypto holdings it is a fiduciary and custodian licensed under new york banking law making gemini arguably the most secure crypto exchange that has ever existed gemini also is a clearinghouse for off exchange trades 2the gemini dollar gusd is gemini s stablecoin based on the u s dollar users can spend gusd or a few other select cryptocurrencies with gemini pay a function built into the gemini app gemini exchange plansthe gemini exchange set itself apart in early may 2016 when it became the first licensed ethereum exchange in the united states 3 in may 2018 gemini became the world s first exchange to be licensed to offer zcash trading as well 4 this announcement followed a report that gemini began offering block trading in april 2018 allowing users to buy and sell large orders of digital currencies outside gemini s usual order books block trading was implemented in order to create additional liquidity opportunities 5gemini has expanded its partnerships with other organizations and companies the most notable of these is gemini s partnership with nasdaq announced in april 2018 through this collaboration gemini can utilize nasdaq s smarts technology in order to weed out fraudulent activity and manipulation of digital currency prices besides the nasdaq partnership gemini also partnered with caspian the digital currency trading and risk management service 6as with most digital currency exchanges gemini has seen its share of issues in late november 2017 for instance gemini crashed for several hours due to unusually high demands on its website rival exchange coinbase also crashed around the same time in response gemini representatives wrote on the company blog to indicate that this is not the first scaling challenge we ve encountered and it won t be the last adding that the exchange is continuing to improve our performance and infrastructure monitoring so we can anticipate potential problems more quickly in the future 7gemini has worked to ensure compliance with federal and state regulations regarding the sale and purchase of digital currencies as such the company markets itself as a new york trust company regulated by the new york state department of financial services as of september 2023 the securities and exchange commission s lawsuit against the exchange continues additionally one of its lending partners genesis and its parent digital currency group filed for bankruptcy in 2023 gemini earn members are at the top of its creditor s list with more than 765 million owed to them 8