Gemini Jumps 17% After $100 Million Winklevoss Fund Investment at $14 a Share

8 articles · Updated · CNBC · May 14

$100 million of new capital sent Gemini shares up as much as 30% after hours before the gain eased to 17%; the stock had closed at $5.26.
The Winklevoss Capital Fund bought Class A shares at $14 each, paying in bitcoin, as Gemini said the financing would back its next phase of growth.
First-quarter results helped the rally: Gemini posted a 93-cent loss per share versus expectations for $1.03, while revenue rose to $50.3 million from a $47.9 million estimate.
The mix still shows a business in transition—exchange revenue fell 27% to $17.2 million, while credit-card revenue nearly quadrupled to $14.7 million and services plus interest income climbed 122% to $24.5 million.
The move offers relief for a stock that has fallen sharply since its September IPO, as investors look for steadier revenue beyond crypto-price swings amid losses, restructuring and a New York class-action lawsuit.

Is the Winklevoss's $100M a strategic bet on Gemini's future or a bailout to protect their existing loans to the company?

Can Gemini's federally-approved prediction markets survive a New York lawsuit aiming to shut them down as illegal gambling?