Gemini surges after Winklevoss Capital Fund invests $100 million in the crypto exchange

A screen displays an image of Gemini co-founders Tyler Winklevoss and Cameron Winklevoss, and the Gemini logo, during the company's IPO at the Nasdaq MarketSite, in New York City, U.S., Sept. 12, 2025. Jeenah Moon | Reuters Gemini Space Station , the crypto exchange founded and led by the Winklevoss brothers, saw shares surge in extended trading after it announced a $100 million capital injection from Winklevoss Capital Fund, the crypto billionaires' venture capital fund. The fund bought shares of the company's Class A common stock at $14 each, paid in bitcoin . The announcement came as part of the company's first-quarter financial update. Shares initially popped about 30% and were last higher by 17%. Stock Chart Icon Stock chart icon Shares of Gemini Space Station in the past day "We believe the market has significantly undervalued Gemini, and that this investment will allow us to set up the company for its next phase of growth," said Tyler Winklevoss, CEO of Gemini, said in a statement. "Gemini has achieved several major product and regulatory milestones that position us well to evolve from a crypto company into a markets company," he added. "This investment will help fuel that ambition and set Gemini up for long-term success." For the first quarter, Gemini reported a narrower-than-expected loss of 93 cents per share. Analysts were anticipating a $1.03 per-share loss, per FactSet. Revenue of $50.3 million also topped expectations of $47.9 million. …