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“Gemini Green”, the new environmental project of the Winklevoss brothers

The exchange will try to offset its carbon emissions.

The millionaire founders of the Gemini exchange, Tyler and Cameron Winklevoss, launched a new initiative to offset their own carbon dioxide emissions and contribute to the transformation of the crypto ecosystem. After a partnership with Climate Vault they launched “Gemini Green”, a project to incorporate “friendly ” mechanisms with the environment.

The first step of the new Winklevoss initiative will be to acquire a series of carbon permits directly from the markets regulated by the United States government, in a total equivalent to those generated by using the BTC network.

As announced by the local media, it would be an acquisition of permits equivalent to 350 thousand tons of carbon; approximately what a car generates after traveling more than 1.6 billion kilometers. In this way, Gemini will try to “compensate “for its environmental damage.

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“As bitcoin emerge as a dominant reserve value, it is imperative that we incorporate sustainability for future generations,” said Tyler. In addition, he expressed his pride and enthusiasm for contributing since his signing to the “decarbonization of bitcoin”.

On the other hand, Michael Greenstone, co-founder of Climate Vault, stressed the importance of companies starting to outline environmentally friendly initiatives. “Decreasing and ultimately reversing the total amount of CO2 entering the atmosphere is vital to preventing disruptive climate change,” he added.

The project comes a month after exchanges FTX and BitMEX announced that they will become “carbon neutral.” Both firms came out after Elon Musk’s questions about the alleged environmental impact of mining, and will become more involved in projects that reduce pollution.

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