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The Winklevoss twins are doubling down on their crypto exchange with a massive investment, even as the company bleeds over $100 million per quarter.
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Gemini Space Station shares rocketed more than 25% in pre-market trading after Winklevoss Capital Fund announced a $100 million strategic investment funded by Bitcoin. The infusion, priced at $14 per share, landed just as the exchange reported a first-quarter net loss of $109 million.
In English: the Winklevoss twins are writing a very large check to their own company at roughly triple its recent trading price, betting the market is wrong about Gemini’s future. Shares had been hovering around $4.92 before the announcement, a painful distance from the $28 IPO price set back in September 2025.
