- Oct 25, 2021
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Gemini Hits $7.1 Billion Valuation
Gemini, the cryptocurrency exchange created by the Winklevoss twins, the two Facebook dissidents, has
This giant round puts Gemini in an enviable situation, reaching a valuation of $7.1 billion and becoming one of the most important U.S.-based exchanges at the moment. The often criticized regulated approach that Gemini has taken in its cryptocurrency business is likely the catalyst for this. On the subject, Sachin Jaitly stated:
Their vision for the role of crypto in redesigning money, the financial system, art, and the Internet, and their track record of incubating and scaling innovative technologies, gives us confidence in Gemini’s ability to continue to be an industry leader.
Gemini’s Alternative Proposal
One of the objectives that Gemini’s founders have is to propose an alternative metaverse, different from what other companies are doing now. In an
There’s a centralized path… that is one step away from being a metaverse, and that’s totally fine. But there is another path, which is the decentralized metaverse and that’s the metaverse where we believe there’s a greater choice, independence, and opportunity, and there is technology that protects the rights and dignity of individuals.
Gemini has already invested in these initiatives through the Gemini Frontier Fund, including projects like Animoca Brands’ The Sandbox.
This seems to put the company on a collision course yet again with Mark Zuckerberg and Meta (formerly Facebook), which has a very different perception of the metaverse and its execution. Other exchanges are also interested in entering the metaverse investment scene. Kucoin, an Asian exchange, recently
What do you think about the $400 million Gemini funding round? Tell us in the comments section below.