Winklevoss brothers invest $100 million in cryptocurrency exchange Gemini

Deep Tide TechFlow News, May 15th, according to Bloomberg, Tyler Winklevoss and Cameron Winklevoss made a strategic investment of $100 million in the New York-based cryptocurrency exchange Gemini Space Station Inc. through Winklevoss Capital Fund, with a subscription price of $14 per Class A common share, paid in Bitcoin. Following this news, the company’s stock price rose about 15% in after-hours trading. As of Thursday’s close, its stock price was $5.26, down more than 80% over the past year.

Gemini’s net loss for the first quarter narrowed to $109 million, compared to $149 million in the same period last year; revenue grew 42% to $50 million, mainly driven by income from credit card and other services. CEO Tyler Winklevoss stated that the market severely underestimates Gemini, and this investment will help the company transition from a crypto company to a market company. Gemini is scheduled to go public in September 2025, shortly after which the crypto market began to decline.

SPACE-6.29%
BTC-2.68%
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