[Exchanges](https://revain.org/exchanges/) › Gemini

# Gemini: licences, security, fees and reviews

Centralized exchange

## Key facts

- **Type**: Centralized exchange
- **Exchange launched**: 2014
- **Country of registration**: United States
- **Official site**: [gemini.com](https://www.gemini.com/)

Data: CoinGecko, 2026-10-27. Only exchanges that operate today with a CoinGecko trust score of 6/10 or higher are listed.

## What is Gemini

Gemini is a centralised cryptocurrency exchange and custodian led by Tyler Winklevoss (CEO) and Cameron Winklevoss (President). Its US operating company, Gemini Trust Company, LLC, was chartered as a limited purpose trust company by the New York State Department of Financial Services in 2015. Gemini offers spot trading, perpetual derivatives outside the US, custody, staking and a credit card.

## Services

| Parameter | Details |
|---|---|
| Spot trading | Spot exchange with a simple mode and ActiveTrader |
| Derivatives | Perpetual futures, for eligible non-US customers |
| Staking / Earn | Staking |
| Custody / wallet | Gemini Custody for institutional clients |
| Card | Gemini Credit Card with crypto rewards (US) |
| Fiat deposits | USD and other fiat currencies; US dollar balances may be held at partner banks |

## Licences and registrations

| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| United States (New York) | Gemini Trust Company, LLC | Limited purpose trust company charter, 2015; NMLS #1518126 | [New York State Department of Financial Services](https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202402282) |
| European Union | Gemini Intergalactic EU Ltd | MiCA crypto-asset service provider authorisation, granted 21 August 2025 | [Malta Financial Services Authority (MFSA)](https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv) |
| European Union (Ireland) | Gemini Payments Europe Limited | Electronic money institution | [Central Bank of Ireland](https://support.gemini.com/hc/en-us/articles/205823016-Are-my-funds-insured) |
| United Kingdom | Gemini Intergalactic UK, Ltd | Registered cryptoasset firm (money laundering regulations) | [Financial Conduct Authority](https://support.gemini.com/hc/en-us/articles/205823016-Are-my-funds-insured) |
| Singapore | Gemini Digital Payments Singapore, Pte. Ltd. | In-principle approval for a Major Payment Institution licence | [Monetary Authority of Singapore](https://support.gemini.com/hc/en-us/articles/35138038094235-Important-Update-Transition-to-Gemini-Digital-Payments-Singapore-Pte-Ltd) |

## Security and audits

- Gemini reports SOC 1 Type 2, SOC 2 Type 2 and ISO 27001 certifications and annual penetration testing.
- Most customer crypto is held in offline cold storage, with a small portion in an online hot wallet.
- Gemini carries insurance against certain losses for crypto held in its hot wallet, subject to limitations.
- US dollar balances may be held at partner banks and may be eligible for FDIC pass-through insurance; crypto is not FDIC-insured.

## Fees

| Parameter | Details |
|---|---|
| Spot maker | 0.60% on ActiveTrader at the entry tier (under $10,000 30-day volume) |
| Spot taker | 1.20% on ActiveTrader at the entry tier |
| Futures maker | 0.02% at the entry tier for perpetuals |
| Futures taker | 0.07% at the entry tier for perpetuals |

## Who can use it

- Verification: Identity verification requires a valid government-issued photo ID and a selfie (biometric face scan).
- Available in more than 60 countries, including all 50 US states; perpetual derivatives are offered only in selected countries and not to US persons.

## History

| Date | Event |
|---|---|
| 2015 | Gemini Trust Company is chartered as a limited purpose trust company by the New York State Department of Financial Services. |
| 1 February 2021 | Gemini launches Earn, which lent customer crypto to Genesis Global Capital. |
| November 2022 | Genesis Global Capital defaults on about $1 billion of loans made through Earn. |
| 28 February 2024 | NYDFS settlement: Gemini commits to return at least $1.1 billion to Earn customers and pays a $37 million penalty. |
| 13 January 2025 | A US federal court enters a CFTC consent order requiring Gemini Trust to pay a $5 million civil penalty over statements made in 2017. |
| 2 April 2025 | Singapore spot accounts move to Gemini Digital Payments Singapore, Pte. Ltd. |
| 21 August 2025 | Gemini Intergalactic EU Ltd receives MiCA authorisation in Malta. |

## Risks and caveats

- Customers of the former Earn programme lost access to assets when lender Genesis Global Capital defaulted in November 2022; NYDFS fined Gemini $37 million in February 2024.
- A CFTC consent order of January 2025 found Gemini made false or misleading statements to the regulator and imposed a $5 million penalty.
- Crypto balances are not covered by deposit guarantee or investor compensation schemes in the EEA or UK; hot-wallet insurance is limited.
- E-money balances held with Gemini's EMIs are safeguarded but not covered by the Irish deposit guarantee scheme or the UK FSCS.

## About the company

- **Legal entity**: Gemini Trust Company, LLC (New York trust company)
- **Parent company**: Gemini Space Station, LLC and affiliates
- **CEO**: Tyler Winklevoss
- **President**: Cameron Winklevoss
- **Founded**: Chartered in New York in 2015

## Official links

- Website: [www.gemini.com](https://www.gemini.com/)
- Fees: [www.gemini.com/fees](https://www.gemini.com/fees)
- Terms of use: [www.gemini.com/legal/user-agreement](https://www.gemini.com/legal/user-agreement)
- Security: [www.gemini.com/security](https://www.gemini.com/security)

## Questions and answers

**Is Gemini regulated?**

Yes. Gemini Trust Company is a New York limited purpose trust company chartered by NYDFS in 2015, and Gemini Intergalactic EU Ltd holds a MiCA authorisation from the Malta Financial Services Authority.

**Does Gemini publish proof of reserves?**

No proof-of-reserves report is published on Gemini's site. Gemini reports SOC 1 Type 2, SOC 2 Type 2 and ISO 27001 certifications and says most assets are held in cold storage.

**What are Gemini's fees?**

On ActiveTrader the entry tier is 0.60% maker and 1.20% taker for spot, falling with 30-day volume. Perpetuals start at 0.02% maker and 0.07% taker.

**Who owns Gemini?**

Gemini is led by Tyler Winklevoss (CEO) and Cameron Winklevoss (President); the site is operated by Gemini Space Station, LLC and its affiliates.

**Is Gemini available in the US?**

Yes. Gemini says it is available in more than 60 countries, including all 50 US states, but perpetual derivatives are not offered in the US.

## Sources

- [CoinGecko — Gemini](https://www.coingecko.com/en/exchanges/gemini)
- [Gemini — About](https://www.gemini.com/about)
- [Gemini — Security](https://www.gemini.com/security)
- [Gemini — ActiveTrader Fee Schedule](https://www.gemini.com/fees/activetrader-fee-schedule)
- [Gemini Support — Are my funds insured?](https://support.gemini.com/hc/en-us/articles/205823016-Are-my-funds-insured)
- [Gemini Support — Which countries and U.S. states does Gemini support?](https://support.gemini.com/hc/en-us/articles/204072799-Which-countries-and-U-S-states-does-Gemini-support)
- [Gemini Support — What documents are required for your verification?](https://support.gemini.com/hc/en-us/articles/360001318986-What-documents-are-required-for-your-verification)
- [Gemini Support — Transition to Gemini Digital Payments Singapore](https://support.gemini.com/hc/en-us/articles/35138038094235-Important-Update-Transition-to-Gemini-Digital-Payments-Singapore-Pte-Ltd)
- [NYDFS — Gemini Earn settlement, 28 February 2024](https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202402282)
- [CFTC — Gemini Trust ordered to pay $5 million, 13 January 2025](https://www.cftc.gov/PressRoom/PressReleases/9031-25)
- [ESMA — Interim MiCA register of crypto-asset service providers](https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv)

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Page updated: 2026-10-28

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Source: https://revain.org/exchanges/gemini/