Gemini, the New York-based cryptocurrency exchange has become the latest to raise a multi-million funding round this bull season. As per a report in Forbes, Gemini is all set to close a $400 million first funding round that would give it a valuation of $7.1 billion. The latest funding round has nearly doubled the combined wealth of Tyler and Cameron Winklevoss from $6 billion to $10.5 billion.
The massive funding round was led by Morgan Creek Digital and saw participation from decentralized finance venture firm ParaFi Capital, and a few others such as Jay-Z’s Marcy Venture Partners, former Disney chairman Jeffrey Katzenberg’s WnderCo, the Commonwealth Bank of Australia, private equity firm 10T, family office advisory Newflow Partners, as well as United Talent Agency, Jane Street. The Winklevoss twins will retain 75% of the shareholdings while the remaining will be distributed among new board members.
“There are these two parallel paths, in terms of technology right now,” says
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