18 Nov 2021
Gemini Crypto Exchange Looking to Value Firm at $7 Billion
The Index Today
Gemini Trust Co. is seeking $400 million through funding rounds to raise the company valuation to $7 billion. The cryptocurrency exchange is paving way to join leading firms in crypto-related fields and join the race with Coinbase Inc, ConsenSys Inc and more.
The positive market conditions for crypto and increasing investor interest have pushed digital currencies to the forefront, with Bitcoin reaching a record high of $68,991.
Gemini has not yet finalized any plans yet and has not issued any formal comment on the matter. In industry news, many crypto firms are seeing potential and growth through new funding. Such funds allow them to become more competitive, hire more employees and work on new product offerings.
Tyler and Cameron Winklevoss created Gemini and invested in other crypto-related startups. The company has around $268.3 million in daily spot volume according to CoinMarketCap.com. On the other hand, Binance is valued at $30.2 billion.
©Photo: Tiffany Hagler-Geard/Bloomberg