Gemini surges after Winklevoss Capital Fund invests $100 million in the crypto exchange
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- Winklevoss Capital Fund invested $100 million in Gemini, purchasing Class A common stock at $14 per share and paying in Bitcoin.
- Gemini shares jumped roughly 30% in extended trading, later holding a 17% gain and closing at $5.26 per share.
- Gemini reported a first‑quarter loss of $0.93 per share, beating analysts’ $1.03 loss estimate, and revenue of $50.3 million, exceeding expectations of $47.9 million.
- Gemini saw exchange revenue fall 27% YoY to $17.2 million, while credit‑card revenue surged nearly 300% YoY to $14.7 million and services/revenue rose 122% YoY to $24.5 million.
- Gemini’s leadership says the capital injection will support its transition from a crypto‑focused exchange to a broader “markets company” and help stabilize revenue beyond crypto price swings.
Why it matters: Investors see Gemini's $100M infusion boost share price and narrow losses, while the exchange hopes to diversify revenue beyond crypto volatility, benefiting shareholders and potentially stabilizing earnings.
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