--- title: "Winklevoss Wallets Move $67M to Gemini Amid Selloff" date: 2026-07-01 author: "Kathleen Kinder" featured_image: "https://coinlaw.io/wp-content/uploads/2026/07/winklevoss-wallets-move-67m-to-gemini-in-btc-and-eth.jpg" categories: - name: "Cryptocurrency" url: "/crypto.md" tags: - name: "News" url: "/tag/news.md" --- # Winklevoss Wallets Move $67M to Gemini Amid Selloff Cameron and Tyler Winklevoss (the Winklevoss twins) saw wallets move approximately $60 million in Bitcoin and about $7 million in Ethereum toward Gemini-linked addresses on July 1, 2026, according to Arkham Intelligence. ## Key Takeaways - Arkham flagged approximately $60 million in BTC and about $7 million in ETH moving from Winklevoss custody to Gemini-linked addresses. - The pattern matches the twins’ prior disclosed transfers, following about $67.5 million in June and $130 million in March, per Arkham. - According to Citigroup, its 12-month Bitcoin target was cut to $82,000 from $112,000 and its Ethereum target to $2,240 from $3,175. - SharpLink Gaming added 10,000 ETH, lifting its treasury to 886,725 ETH. - BitMine grew its Ethereum stack to 5,700,040 ETH after buying 27,084 ETH in a single week. ## What Happened? On-chain wallet data tracked by Arkham Intelligence shows custody-to-hot-wallet transfers from the **Winklevoss Capital entity** to Gemini-linked addresses, a pattern consistent with the twins’ prior disclosed selling behavior, moving **$60 million** in Bitcoin and about $7 million in Ethereum. On-chain routing alone does not prove the coins were sold rather than repositioned for custody or liquidity purposes, but sending funds to an exchange-linked address is the same signature Arkham has flagged from this entity before. Arkham’s history for the entity also shows about $67.5 million in Bitcoin sent to [Gemini](https://coinlaw.io/gemini-crypto-exchange-statistics/) the prior month and $130 million three months earlier. The twins have realized approximately **$1.7 billion in Bitcoin profit** since they began accumulating the asset in 2015, and still hold more than $300 million in Bitcoin, a position that keeps shrinking with each transfer even as it remains sizable. That backdrop matters for tracking large-holder flows, since repeated custody-to-exchange transfers can register in venue volume well before any sale prints. > THE WINKLEVOSS TWINS ARE SELLING BITCOIN > > The Winklevoss Twins just moved $60M of BTC to Gemini, and $7M of ETH. This activity pattern matches usual selling patterns (custody > hot wallet). > > The Winklevosses still hold over $300M of BTC. They made ~$1.7 Billion from Bitcoin since… [pic.twitter.com/OXtxB2QBqO](https://t.co/OXtxB2QBqO) > > — Arkham (@arkham) [July 1, 2026](https://x.com/arkham/status/2072261949656547682?ref_src=twsrc%5Etfw) ## Market Backdrop: Citi Slashes Both Forecasts Citigroup cut its 12-month Bitcoin price target to **$82,000** from $112,000 and lowered its [Ethereum](https://coinlaw.io/ethereum-statistics/) forecast to $2,240 from $3,175, citing an assumption of near-zero net ETF inflows going forward. The bank’s revision reframes the moment: this is not an isolated whale withdrawal, but part of a broader repricing where a major bank now expects the ETF-driven demand that powered the prior rally to stall out. Bitcoin has continued trading well off its recent highs, while Ether has slipped toward depressed multi-month levels. Neither move is pinned here to a single verified tick; the directional weakness across both assets is the relevant signal, not a precise print. That weakness also shapes exposure for smaller holders, who tend to carry more drawdown risk than institutional treasuries with multi-year mandates. ## Corporate Treasuries Keep Buying Ethereum Not everyone is pulling back. [SharpLink Gaming disclosed acquiring 10,000 ETH](https://coinlaw.io/sharplink-acquires-10000-eth/) at an average price of $1,611 per token, bringing its holdings to **886,725 ETH**, alongside a $75 million raise and repurchases of more than 2.1 million shares of common stock. BitMine acquired 27,084 ETH over the prior week, lifting its holdings to **5,700,040 ETH** at an average price of $1,569. ## CoinLaw’s Takeaway A custody-to-exchange transfer is not confirmation of a sale, and treating on-chain movement as a settled liquidation ignores the gap between a wallet reshuffle and an executed trade. What is verifiable is the repetition. Arkham has now tracked three disclosed transfers to Gemini-linked wallets since March. Whether the latest **$60 million in Bitcoin and $7 million in Ethereum** ever converts to a market sale remains unconfirmed. Definition of Hot Wallet. Link to full glossary entry follows the description.**Hot Wallet**A hot wallet is an internet-connected crypto wallet for fast transactions and [DeFi](https://coinlaw.io/glossary/defi/) access, but it carries higher security risks than offline storage. [Read more](https://coinlaw.io/glossary/hot-wallet/)