Blockchain trackers spotted the move first. On April 15, 572 Bitcoin—valued at $42.77 million—shifted from a Gemini hot wallet to custody addresses tied to Winklevoss Capital. Two batches: 372 BTC, then 200 BTC eleven hours later. The twins’ family office now controls 9,328 BTC, worth $689 million. Gemini’s own Bitcoin reserves? Down to a 14-year low. This isn’t their first dance with big transfers. Just over a month back, they deposited $128.5 million in BTC into Gemini hot wallets, slashing holdings to 8,800 BTC—their smallest stack since 2012. Arkham Intelligence flagged it then as potential selling pressure. Now, the withdrawal flips the script. Accumulation? Rebalancing? Or something else entirely. But. Gemini reels. The exchange, public since last September just before crypto’s harsh winter hit, has shed more than half its market value in 2026 alone. Shares of Gemini Space Station (GEMI) trade at $5.10, a 50% plunge year-to-date.…