Gemini Stock Rises as Winklevoss Twins Inject $100 Million Into Crypto Exchange
Gemini Space Station Inc. received a $100 million bitcoin-funded investment from Winklevoss Capital Fund, buying 7.1 million shares at $14 each, according to a Thursday filing. Gemini’s stock rose about 15% in post-market trading after the news, but remains far below its September IPO price. First-quarter net loss narrowed to $109 million, while exchange revenue fell 27% as trading volumes dropped. Prediction markets generated $0.4 million in revenue and 20,000 users.