Gemini, a New York-based cryptocurrency exchange, is the latest to raise a multi-million dollar funding round this bull market. Gemini is set to close a $400 million first funding round, giving it a valuation of $7.1 billion. Tyler and Cameron Winklevoss’ combined wealth has nearly doubled from $6 billion to $10.5 billion as a result of the latest funding round.
Morgan Creek Digital led the massive funding round, which included participation from decentralized finance venture firm ParaFi Capital, as well as Jay-Marcy Z’s Venture Partners, former Disney chairman Jeffrey Katzenberg’s WnderCo, the Commonwealth Bank of Australia, private equity firm 10T, family office advisory Newflow Partners, and United Talent Agency, Jane Street. The Winklevoss twins will keep 75 percent of the stock, while the rest will be divided among new board members.
Gemini Aims to Conquer the Metaverse
Many people are unaware that the Winklevoss twins and Mark Zukerberg were college friends, which led to the creation of Facebook and a lawsuit. The Winklevoss twins may have lost Facebook to Zukerberg, but it appears that the tables have turned, and Gemini is leading the charge to take on the Metaverse, while Facebook is developing its own, called Meta.
The decentralized showdown between the two sides appears to be a repeat of history, with the Winklevoss twins clearly having the upper hand over Facebook and Mark Zukerberg this time.