Crypto exchange Gemini gains after $100M investment from Winklevoss Capital Fund and beats revenue forecasts.

Gemini, the crypto exchange led by the Winklevoss brothers, announced a $100 million strategic investment from Winklevoss Capital Fund, paid in bitcoin, boosting its shares by 17% in after-hours trading. The company also reported better-than-expected first-quarter results, with revenue of $50.3 million surpassing forecasts and a narrower loss of 93 cents per share versus the anticipated $1.03 loss. Despite challenges since its IPO, including losses and market pullbacks, Gemini is shifting towards becoming a broader markets company, focusing on stable revenue streams beyond crypto market swings. The investment aims to support Gemini's growth and transformation into a more diversified financial firm.