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Gemini Reveals $601M GUSD Backing, 45+ Licenses Amid Global Exchange Turmoil

The Winklevoss Twins-backed exchange Gemini has announced a “Trust Center” to display a breakdown of funds held on the platform. The page, hosted on the Gemini website, reveals that it holds over $4.6 billion in crypto assets with $601 million in the treasury to back its stablecoin GUSD.

However, data from several sources, including CryptoSlate’s coin page, shows the market cap of GUSD to be $613.98 million, leaving a difference of $12.98 million.

The exchange also listed some 45+ relevant licenses across the U.S., United Kingdom, and Ireland. The licenses included a New York Trust license for virtual currency granted in 2015, alongside money transmission licenses in most U.S. states. Gemini also holds virtual asset and e-money licenses in the United Kingdom and Ireland.

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