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 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.