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Gemini Crypto Exchange Fund Raise Puts Valuation at $7.1 Billion

  • Winklevoss-led firm joins slew of crypto firms raising money
  • Businesses are preparing for acquisitions, competition
The Gemini Trust Co. application.

The Gemini Trust Co. application.

Photographer: Tiffany Hagler-Geard/Bloomberg
Updated on

Gemini Trust Co., the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, said it raised $400 million in a round of funding that values the company at $7.1 billion.

The exchange’s first-ever outside financing was led by Morgan Creek Digital with participation from the Commonwealth Bank of Australia and other investors. The bank is also partnering with Gemini to give its customers safe storage for tokens they buy and sell. Bloomberg first reported the funding round yesterday.