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The Winklevoss brothers invest $100 million in cryptocurrency exchange Gemini.
According to Bloomberg, Tyler Winklevoss and Cameron Winklevoss have made a $100 million strategic investment in New York–based cryptocurrency exchange Gemini Space Station Inc. through Winklevoss Capital Fund, purchasing Class A common stock at $14 per share, with payment made in Bitcoin. Following the announcement, the company’s stock rose approximately 15% after hours. As of Thursday’s close, its share price stood at $5.26—down more than 80% over the past year. Gemini’s net loss narrowed to $109 million in Q1, compared to $149 million a year earlier; revenue grew 42% to $50 million, driven primarily by income from services such as credit cards. CEO Tyler Winklevoss stated that the market has severely undervalued Gemini, and this investment will help the company transition from a crypto firm to a broader market company. Gemini went public in September 2025, shortly after which the crypto market entered a downturn.
Gemini Space Station Faces Securities Fraud Class Action Lawsuit, Accused of Overstating Feasibility of Cryptocurrency Platform Business
According to GlobeNewswire, Bernstein Liebhard LLP announced that it has filed a securities fraud class action lawsuit against Gemini Space Station, Inc. (Nasdaq: GEMI). The lawsuit covers investors who purchased the company’s stock around the time of its initial public offering (IPO) on September 12, 2025, through February 17, 2026. Defendants are accused of overstating the feasibility of the company’s core cryptocurrency platform business and making misleading statements. Investors who hold GEMI stock and have suffered losses may contact the firm to apply to serve as lead plaintiff; the deadline to apply is May 18, 2026. The firm operates on a contingency-fee basis—no upfront fees are required from investors.