Mentioned:
GEMI -9.42% CYPH -47.27%
Two of the most successful investors in crypto are doubling down on their own publicly traded company. But, why?
What’s happening:
- Cameron and Tyler Winklevoss’ family office Winklevoss Capital has invested $100M USD into Gemini Space Station (NASDAQ: GEMI)
By the numbers:
- Winklevoss Capital invested $100M USD at $14.00 USD per share, which represents more than a +200% premium to Gemini Space Station’s closing price prior to the investment
Why it matters:
- Gemini Space Station was originally co-founded by Cameron and Tyler Winklevoss and has become one of the largest crypto exchanges and trading platforms in the United States
Going deeper:
- Gemini Space Station has multiple notable investors including Nasdaq (NASDAQ: NDAQ) who put $50M USD into their IPO financing round as part of a larger strategic partnership to give Nasdaq’s clients direct access to custody and staking of digital assets
- Cameron and Tyler Winklevoss previously made major waves on Wall Street when they were the founding investors in Cypherpunk Technologies (NASDAQ: CYPH) which has been aggressively accumulating Zcash to hold directly as an asset
The intrigue:
- Winklevoss Capital made their $100M USD investment into Gemini Space Station through Bitcoin
