1. What is GUSD?

Introduction to Gemini Dollar (GUSD)

Gemini Dollar (GUSD) is a stablecoin issued by Gemini Trust Company, founded by Cameron and Tyler Winklevoss. Its primary aim is to combine the stability of the US Dollar with the efficiency of blockchain technology.

Features

1. Dollar Pegged: Each GUSD is pegged to a reserve of US Dollars, providing stability that is not found in other cryptocurrencies like Bitcoin and Ethereum.
2. Regulation: GUSD is regulated by the New York State Department of Financial Services (NYDFS), ensuring compliance with financial regulations and regular audits.
3. Operational Mechanism: The operation of GUSD is quite straightforward, supported by blockchain technology and banking partnerships. Users can purchase GUSD through the Gemini exchange platform, and upon purchase, the Gemini Trust Company will safely store an equivalent amount of US Dollars in a bank account that is periodically audited.
4. Blockchain Support: Transactions involving GUSD occur on the Ethereum blockchain, which serves as the backbone for the token's smart contracts.

More Information

• Official Whitepaper: https://www.gemini.com/static/dollar/gemini-dollar-whitepaper.pdf
• Official Website: https://www.gemini.com/dollar

The design of GUSD aims to provide users with a reliable stablecoin, combining the stability of the US Dollar with the efficiency of blockchain technology.

2. Who founded GUSD?

The cryptocurrency GUSD (Gemini Dollar) is issued by Gemini Trust Company. The company was founded by the Winklevoss twins, Cameron Winklevoss and Tyler Winklevoss.

3. Which venture capitalists invested in GUSD?

Based on the information provided, it is not directly ascertainable which venture capitalists invested in the cryptocurrency GUSD (Gemini Dollar). However, here are some details related to cryptocurrency investment:

1. SoftBank: SoftBank's Vision Fund invested in cryptocurrency exchanges like FTX, but there is no mention of GUSD.
2. Gemini: Gemini is the cryptocurrency exchange founded by the Winklevoss twins, which issued GUSD, but it does not specify which venture capitalists invested in GUSD.
3. Other Investors: The text mentioned several investors but mainly focused on investments in Web3, AI, and cryptocurrency domains without specifically naming investors in GUSD.

In summary, it is not possible to determine from the provided information which venture capitalists invested in GUSD.

4. How does GUSD operate?

Operational Mechanism of GUSD (Gemini Dollar) Cryptocurrency:

1. Issuance and Reserves: GUSD is issued by Gemini Trust Company, with each GUSD pegged to a reserve of US Dollars, ensuring a 1:1 exchange rate.

2. Purchase and Trade: Users can acquire GUSD through the Gemini exchange platform, and upon purchase, the Gemini Trust Company securely stores an equivalent amount of US Dollars in a bank account that is regularly audited.

3. Blockchain Support: Transactions for GUSD are conducted on the Ethereum blockchain, which serves as the backbone for the token's smart contracts.

4. Regulation: GUSD is regulated by the New York State Department of Financial Services (NYDFS), ensuring compliance with financial regulations and regular audits, which enhances credibility and makes it a preferred choice for users seeking a reliable stablecoin.

5. Stability: The stability of GUSD comes from its 1:1 peg to the US Dollar, making it more stable than other cryptocurrencies.

In conclusion, GUSD offers a stable and reliable cryptocurrency through its peg to the US Dollar and transactions on the Ethereum blockchain.