Gemini
Exchange CustodyGemini is a New York-regulated cryptocurrency exchange founded by the Winklevoss twins. SOC 2 Type 2 certified. Known for regulatory compliance and security. Offers the Gemini Dollar (GUSD) stablecoin and Gemini Earn (lending).
Quick Verdict
With a Custody Score of 7.9/10, Gemini is ranked #1 of 10 among exchange custody providers. Its strongest category is Regulatory and its weakest is Counterparty Diversification.
Analysis
Score Breakdown
The Custody Score is a weighted average across 8 criteria, each rated 1-10.
| Criterion | Score | Weight | Weighted |
|---|---|---|---|
| Security | 8.5 | 20% | 1.70 |
| Insurance | 7.5 | 15% | 1.13 |
| Regulatory | 9 | 15% | 1.35 |
| Fee Transparency | 7 | 10% | 0.70 |
| Track Record | 7.5 | 15% | 1.13 |
| Withdrawal Flexibility | 8.5 | 10% | 0.85 |
| Reporting & Audit | 9 | 10% | 0.90 |
| Counterparty Diversification | 2 | 5% | 0.10 |
| Total | 100% | 7.9 |
Key Features
- ✓NY Trust Company charter
- ✓SOC 2 Type 2 certified
- ✓$200M+ insurance
- ✓10 free withdrawals/month
- ✓ActiveTrader low fees
- ✓Gemini Dollar (GUSD)
Fee Breakdown
| Setup Fee | Free |
| Annual Custody Fee | None |
| Transaction Fee | 0.2-0.4% maker/taker (ActiveTrader) |
| Withdrawal Fee | Free withdrawals (10/month) |
| Notes | 10 free crypto withdrawals per month. ActiveTrader has competitive fees. |
Security Details
Key Management
Institutional hot/cold custody
Cold Storage
95%+
SOC Compliance
SOC 2 Type 2
Penetration Testing
Yes
Incident History: Gemini Earn issues (Genesis lending). Exchange itself unbreached.
Insurance Coverage
Coverage
$200M+ hot wallet insurance
Carrier
Leading carriers
Details
One of the highest disclosed insurance amounts among exchanges.
Regulatory Status
Licenses
- NY Trust Company (NYDFS)
- SOC 2 Type 2
- Multiple state licenses
NY Trust Company charter — highest US regulatory standard for crypto.
Pros & Cons
Pros
- NY Trust Company — highest regulatory standard
- SOC 2 Type 2 certified
- $200M+ disclosed insurance
- 10 free crypto withdrawals per month
- Strong security track record for exchange
Cons
- Gemini Earn (lending) controversy
- Smaller trading volume than competitors
- Higher basic fees
- Single custodian risk
- Winklevoss concentration risk