by Tor Constantino | Published on Nov. 24, 2021
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Founded in 2015, the Winklevoss twins' Gemini platform seeks to empower individuals through crypto while growing globally and focusing on non-fungible tokens.
Late last week the wunderkind tandem of Cameron and Tyler Winklevoss announced the successful close of a $400 million equity round of financing for their cryptocurrency platform, Gemini. This latest funding infusion balloons Gemini's balance sheet to an impressive $7.1 billion valuation. "Gemini is the portal into crypto for new and seasoned investors alike," said Tyler Winklevoss, co-founder and CEO of Gemini in the official statement announcing the funding round. "The investors that we have brought on in this round share our ambitious vision for the future."
Those investors include rapper Jay-Z's Marcy Ventures Partners and the Commonwealth Bank of Australia (CBA). Earlier this month, CBA proved its crypto bona fides by announcing it would enable crypto trading on its mobile app for retail banking customers, becoming only one of a handful of banks in the world that offers crypto services. Of note, Gemini is providing the cryptocurrency exchange and custodial digital wallet for CBA customers interested in exploring programmable money as part of that agreement.
In its statement, Gemini noted that the new funding would fuel its geographic growth -- targeting Asia, Africa, and South America -- as its crypto exchange service is already available in 60 countries spanning other continents of the world. It says it also plans on continuing its investment in NFTs. Since launching in March 2020, Gemini's Nifty Gateway has racked up more than $420 million in sales via 375 unique artist collaborations -- including famous artists such as Beeple -- solidifying its spot as an NFT destination.
"We are incredibly excited to continue to build on the frontier of crypto and give individuals around the world greater choice, independence, and opportunity through crypto," stated Cameron Winklevoss, co-founder and president of Gemini.
Future crypto regulation could one day impact the industry on a whole, but until (and if) that comes down the pike, crypto will likely continue to show up just about everywhere we can imagine, leaving a trail of dollar signs in its wake.
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide what features that matter most to you.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list here and get started on your crypto journey, today.
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