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Winklevoss Capital Deploys $100M in Gemini, Shares Surge on Q1 Beat

Gemini Space Station secured a $100 million strategic investment from Winklevoss Capital Fund. Shares climbed 17% in extended trading after the announcement. The crypto exchange's investors purchased Class A common stock at $14 per share, paid in bitcoin. The capital injection accompanied first-quarter results that topped analyst expectations. Gemini posted a narrower-than-expected loss of 93 cents per share while generating $50.3 million in revenue, surpassing forecasts of $47 million. Exchange revenue declined 27% year-over-year to $17.2 million, though credit card revenue surged nearly 300% to $14.7 million. Services revenue and interest income climbed 122% annually. CEO Tyler Winklevoss said the market has undervalued the company and positioned it for its next growth phase following major product and regulatory achievements.