Winklevoss Capital Invests $100m In Gemini At $14 Per Share, Paid In Bitcoin

Winklevoss Capital Backs Gemini with $100M Bitcoin Investment

@Gemini reported its first-quarter 2026 financial results on Thursday alongside a significant vote of confidence from its founders. @winklevosscap has made a $100 million strategic investment in the company, at a price of $14 per share via a private placement. The deal exchanged 7,142,857 Class A shares for bitcoin, with proceeds earmarked to support product development, strategic initiatives, and general corporate purposes.

@tyler, CEO of Gemini, framed the move as a long-term conviction bet. "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. Cameron Winklevoss, President of Gemini, pointed to recent regulatory progress as part of the broader ambition. "In April, we received our DCO license from the CFTC, which marks a major milestone in our marketplace expansion. In addition to our crypto spot marketplace, Gemini now has taken the next step towards building a full-stack, end-to-end marketplace for predictions as well as futures, options, and more."

Revenue Climbs 42% but Losses Remain

Gemini reported Q1 2026 total revenue of $50.3 million, up 42% year-over-year, driven by services and OTC growth, while transaction revenue held at $24.1 million and exchange revenue fell 27% to $17.2 million amid lower spot volumes. Services revenue and interest income rose 122% to $24.5 million, accounting for 49% of total revenue, up from 31% in the year-earlier quarter. Credit card revenue increased nearly 300% year-over-year to $14.7 million, driven by significant growth in the Gemini Credit Card user base, with approximately 13,100 new sign-ups in Q1 2026, more than double the approximately 6,000 in Q1 2025.

Gemini recorded a Q1 2026 net loss of $109.0 million, improving from $149.3 million a year earlier. Assets on Platform were $11.1 billion as of March 31, 2026, compared to $14.2 billion at March 31, 2025, reflecting lower crypto asset valuations relative to the elevated market levels in the prior year period.

The investment arrives after a turbulent stretch for the company. Bloomberg reported that Gemini had lost more than half its market value in 2026, cut 30% of its workforce, and exited markets including the UK, EU, and Australia. Gemini's shares have been volatile since its September 2025 IPO, which was priced at $28, opened above $37, and closed its first day around $32. The stock had since fallen to roughly $4.36 before Thursday's announcement. Following the news, GEMI gained 15.75%, reflecting a significant positive market reaction.

Sources:
Gemini Q1 2026 Results and $100M Investment (Stock Titan / Globe Newswire)
Gemini Reports Q1 Revenue Up 42%, Announces $100M Investment Paid in Bitcoin (Blockspace)
Winklevoss Capital Bitcoin Moves and Gemini Background (CoinDesk)