As per the latest reports, Gemini has made an announcement in regards to the launch of a funding round. Gemini has announced that there are plans for carrying out a funding round. Gemini is aiming to carry it out for $400 million.
Gemini is a major cryptocurrency exchange that has been founded and operated by the Winklevoss twins. The exchange is now eyeing a fundraiser that will bring in $400 million for the exchange. The funding round is expected to bring the market valuation of the exchange all the way up to $7 billion.
The announcement in regards to the funding round has been made by Gemini on Thursday, November 18, 2021. The exchange is confident that the funding round they are planning to carry out will bring their market valuation all the way up to $7 billion.
It has been revealed that the funding round will be spearheaded by Tyler Winklevoss and Cameron Winklevoss, commonly known as the Winklevoss twins.
It has been hinted by the Winklevoss twins that they may aim to bring their exchange to the same level as Coinbae as well as ConsenSys. These companies have been working hard to increase their user adoption and bring in more and more mainstream investors.
The cryptocurrency industry has been growing big and favorable for the majority of the mainstream investors. Therefore, several firms related to the cryptocurrency sector have been making sure that they are able to benefit from the situation as much as possible.
This is the reason why the cryptocurrency industry has been growing more and more attractive for the mainstream investors. As Gemini already has a huge name and a lot of prominence in the cryptocurrency sector, it is taking full advantage of it.
The exchange has been around for a while and it knows the mainstream industry really well. The exchange knows really well that it will be able to gain the support of several crypto and non-crypto investors. These investors are aiming to generate huge gains by investing in the crypto sector.
Therefore, Gemini having a huge name in the industry will definitely help it bring in a huge number of investors, thus helping it generate huge funds.
It is expected that the Gemini Exchange may be looking for a new milestone. For cryptocurrency exchanges, the major milestone is always to go for a public launch, such as the likes of Coinbase.
After achieving a $7 billion worth of market capitalization, the exchange may go for a public launch. Several inside sources have claimed that the exchange may go for an initial public offering (IPO). There are possibilities that the exchange may side with a special purpose acquisition company (SPAC) in order to go for the public listing.
