Yahoo Finance | Ripple injects $250 million lifeline into billionaire twins-led exchange Ripple, the blockchain and crypto payments company, has expanded its credit line for the Gemini crypto exchange to $250 million, as revealed in a form-10 filing with the Securities and Exchange Commission (SEC) on March 31. Founded by the billionaire Winklevoss twins in 2014, Gemini went public in September last year but has recently announced mass layoffs as it retreats from global markets, including the U.K., the European Economic Area, and Australia. The credit agreement between Ripple and Gemini was initially established in July of the previous year with a $75 million credit line, which could be increased to $150 million by December if certain conditions were met. The amended Ripple credit agreement now includes a higher interest rate of 7% per annum, up from the original 6.5%, along with additional collateral and operating covenants tied to the holdings and activity levels of the RLUSD stablecoin. If Gemini fails to reduce its outstanding borrowings to $150 million or less by July 2, 2026, the interest rate will rise to 10%. Gemini must also pledge company-owned RLUSD as collateral, hold it in a qualified custodian regulated by the New York Department of Financial Services (NYDFS), and enter into a control agreement satisfactory to Ripple by January 31. Any failure to meet these conditions will trigger an immediate event of default. Beyond the credit facility, the relationship between Ripple and Gemini extends to a co-branded credit card launched by Gemini in August of the previous year, which attracted over 30,000 users in its first month. As of December 31, Gemini held approximately $154.1 million in outstanding principal and had pledged around $188.8 million in credit card receivables as collateral, with nearly $219.8 million in Gemini Credit Card customer receivables purchased by year-end, part of which is pledged under the Ripple facility. TheStreet originally published this story on April 6, 2026, in its MARKETS section. Read more: https://finance.yahoo.com/markets/crypto/articles/ripple-injects-250-million-lifeline-173512395.html #ripple #gemini #winklevosstwins #securitiesandexchangecommission #newyorkdepartmentoffinancialservices