Gemini Stock Rises as Winklevoss Twins Inject $100 Million Into Crypto Exchange
Gemini Space Station Inc. on Thursday said Winklevoss Capital Fund poured in a $100 million bitcoin-backed investment, bolstering the crypto exchange just as it trimmed its first-quarter loss and leaned deeper into the world of prediction markets. According to a regulatory filing, the deal was finalized that same day. It’s all about timing. Shares of Gemini finished Thursday at $5.26, a far cry from the $28 price set during its IPO in September. Then, following the latest announcement, the stock jumped roughly 15% in after-hours trading, according to Bloomberg.