Winklevoss Twins’ $330 Million Gemini Loans in Focus After Rout

Gemini Space Station Inc.has lost more than half its market value this year, cut 30% of its workforce and retreated from major overseas markets as the crypto exchange struggles financially.

Now, one idea being floated internally involves asking founders Tyler and Cameron Winklevoss to forgive hundreds of millions of dollars in loans they provided to the company, possibly by converting that debt into additional equity, according to a person familiar with the matter.

Any major decision would require the blessing of the Winklevoss brothers, who control the majority of voting shares and have not signaled whether they’d support the ...