Gemini has disclosed in its latest filing that it owes 4,619 BTC to Winklevoss Capital as of December 31, 2025, valued at approximately $314 million at current prices. The loans carry an annual interest rate of 4% to 8% and have no fixed maturity date, allowing the lender to demand repayment at any time with written notice. Historically, Gemini has borrowed over 11,000 BTC and 133,000 ETH from Winklevoss Capital.