Winklevoss Capital Invests $100 Million in Gemini in Bitcoin-Funded Deal
Gemini said Winklevoss Capital Fund invested $100 million in the company at $14 a share, with payment made entirely in bitcoin. The stock rose 19.77% in premarket trading following the announcement.
The company also reported first-quarter revenue climbed 42% from a year earlier to $50.3 million, above estimates of $47.9 million, and narrowed its losses. Gemini said the capital will support liquidity, product development and strategic initiatives.
From the sources (3 posts)
@techmemeGemini reports Q1 revenue up 42% YoY to $50.3M, vs. $47.9M est., announces a $100M capital injection from Winklevoss Capital Fund; GEMI jumps 22%+ after hours (@tanayamac / CNBC) (Visit Techmeme dot com for the link and full context!)
@fintechfrankNEW: Gemini said Winklevoss Capital Fund invested $100 million into the company at $14/share, with the investment paid entirely in bitcoin. Stock up 19.77% in pre market
@wallstengine$GEMI shares are trading higher after Gemini reported revenue up 42% and narrowed its losses. The company also secured a $100M investment from Winklevoss Capital at $14/share. Gemini says the bitcoin-funded investment will support liquidi