Crypto Exchange Gemini Hits a Valuation of $7.1 Billion

by Bilal Jafar
  • The crypto trading platform raised $400 million in growth equity funding.
Crypto Exchange Gemini Hits a Valuation of $7.1 Billion
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Gemini, one of the world’s prominent crypto exchanges, has secured $400 million in a recent investment round led by Morgan Creek Capital. The funding round values the company at $7.1 billion.

The $400 million financing round saw participation from some of the leading global investors, including 10T, ParaFi, Newflow Partners, Marcy Venture Partners and the Commonwealth Bank of Australia. Launched in 2015 by Cameron and Tyler Winklevoss, Gemini has seen a significant jump in trading volumes due to the rise in the popularity of digital assets this year.

In 2021, Gemini announced the acquisition of Blockrize to help launch the Gemini Credit Card. Additionally, the Exchange acquired ShardX. In addition to the latest acquisitions, the company introduced Gemini Earn that allows users to lend their crypto assets.

"We are leading the first outside investment in Gemini because of our shared conviction in crypto and belief in the company that Cameron and Tyler are building," said Sachin Jaitly, General Partner of Morgan Creek Digital. "Their vision for the role of crypto in redesigning money, the financial system, art, the Internet, and their track record of incubating and scaling innovative technologies, gives us confidence in Gemini's ability to continue to be an industry leader."

Global Expansion

In 2021, Gemini expanded its global presence substantially. The exchange entered the UK as one of the few registered digital asset firms. Moreover, the company filed its license with the Monetary Authority of Singapore (MAS) to accelerate its expansion plans in the Asia Pacific region.

"In 2021, we diversified our revenue stream, expanded to new territories, acquired pioneering companies and invested in industry-redefining innovations through the Gemini Frontier Fund. We also supported Bitcoin core development through the Gemini Opportunity Fund," said Cameron Winklevoss, Co-Founder, and President of Gemini. "We are incredibly excited to continue to build on the frontier of crypto and give individuals around the world greater choice, independence and opportunity through crypto."

Gemini, one of the world’s prominent crypto exchanges, has secured $400 million in a recent investment round led by Morgan Creek Capital. The funding round values the company at $7.1 billion.

The $400 million financing round saw participation from some of the leading global investors, including 10T, ParaFi, Newflow Partners, Marcy Venture Partners and the Commonwealth Bank of Australia. Launched in 2015 by Cameron and Tyler Winklevoss, Gemini has seen a significant jump in trading volumes due to the rise in the popularity of digital assets this year.

In 2021, Gemini announced the acquisition of Blockrize to help launch the Gemini Credit Card. Additionally, the Exchange acquired ShardX. In addition to the latest acquisitions, the company introduced Gemini Earn that allows users to lend their crypto assets.

"We are leading the first outside investment in Gemini because of our shared conviction in crypto and belief in the company that Cameron and Tyler are building," said Sachin Jaitly, General Partner of Morgan Creek Digital. "Their vision for the role of crypto in redesigning money, the financial system, art, the Internet, and their track record of incubating and scaling innovative technologies, gives us confidence in Gemini's ability to continue to be an industry leader."

Global Expansion

In 2021, Gemini expanded its global presence substantially. The exchange entered the UK as one of the few registered digital asset firms. Moreover, the company filed its license with the Monetary Authority of Singapore (MAS) to accelerate its expansion plans in the Asia Pacific region.

"In 2021, we diversified our revenue stream, expanded to new territories, acquired pioneering companies and invested in industry-redefining innovations through the Gemini Frontier Fund. We also supported Bitcoin core development through the Gemini Opportunity Fund," said Cameron Winklevoss, Co-Founder, and President of Gemini. "We are incredibly excited to continue to build on the frontier of crypto and give individuals around the world greater choice, independence and opportunity through crypto."

About the Author: Bilal Jafar
Bilal Jafar
  • 2441 Articles
  • 71 Followers
About the Author: Bilal Jafar
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
  • 2441 Articles
  • 71 Followers

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