The bitcoin exchange Gemini, founded by Cameron and Tyler Winklevoss, has become the principal sponsor of the Oxford–Cambridge Boat Race, the oldest regatta between the Oxford and Cambridge rowing clubs in the United Kingdom.
Thrilled that @Gemini will be the principal sponsor of the Oxford-Cambridge Boat Race. Rowing instilled in @tyler and me the power of aligning a team with shared principles and values for the purposes of advancing a common mission.https://t.co/WqL5KK0NDZ
— Cameron Winklevoss (@cameron) March 9, 2021
One of the most prestigious eight-oared rowing events in academic rowing has been held on the Thames since 1829.
Gemini served as the lead sponsor of the 2021 race.
In a statement, the Winklevosses stressed that the partnership would enable the regatta to take place and finance training in academic rowing at both universities. The Gemini Boat Race Scholarship programme would help attract young people from backgrounds with limited access to the sport, they added.
“A scholarship of £75,000 will provide education and training in rowing for students from disadvantaged families, removing the financial barriers that often prevent them from taking part in competitions.”
The brothers took up rowing in 1999; their principal sporting achievements include the gold at the 2007 Pan American Games in the eight with a coxswain and a final in the pairs at the 2008 Beijing Olympics. In 2010 they rowed for the Oxford crew, which lost the race.
The Winklevosses noted that their sporting experience of teamwork helped them in entrepreneurship and in building Gemini, the cryptocurrency business.
“We are very excited to unite two of our greatest passions — rowing and cryptocurrency — in sponsoring this historic event,” they said.
To mark the partnership, new Gemini users in the United Kingdom will be able to trade without commissions for two weeks. The exchange began operating in the country in September 2020.
The founders of Gemini said that are considering a possible public listing of the company.
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