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Winklevoss twins become billionaires, they used $11m Facebook payout to become world’s first Bitcoin billionaires.

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The twins’ company, Math-Based Asset Services LLC, filed to register a bitcoin-based exchange-traded fund called Winklevoss Bitcoin Trust in 2013.The fund was denied in March 2017.

In 2013, the twins led a $1.5 million in seed funding of BitInstant, a bitcoin payment processor. However, in January 2014, Charlie Shrem, CEO of BitInstant, was arrested and charged with money laundering related to the Silk Road online black market investigation. The brothers said they were passive investors in the company.

In 2014, the twins launched Winkdex, a financial index that tracks the price of bitcoin. The index uses data from seven exchanges, weighed based on the daily trading volume of each exchange.

In March 2014, it was announced that the twins had purchased seats on Richard Branson’s Virgin Galactic shuttle using the profits they had made from bitcoin.

In October 2015, Gemini, the twins’ Bitcoin exchange, received approval to launch from the New York State Department of Financial Services. The exchange is targeted at both first-time users and professional traders.