Tag: funding

Gemini Raises $400 Million in Growth Equity Funding Round; Metaverse Clash Incoming – Bitcoin News

Gemini, the regulated cryptocurrency exchange founded by the Winklevoss Twins, has raised $400 million in its most recent growth equity funding round. This financial round gave it a valuation of $7.1 billion, being one of the most valuable exchanges in the crypto world. The financial round, led by Morgan Creek, also had the participation of key leaders in the venture capital sector. Gemini has been investing heavily in alternative metaverse proposals. Gemini Hits $7.1 Billion Valuation Gemini, the cryptocurrency exchange created by the Winklevoss twins, the two Facebook…

US Crypto Exchange Soars to $7,100,000,000 Valuation After First Outside Funding Round

New York-based centralized crypto exchange Gemini is reaching new valuation heights after securing its first outside financing. Gemini announced this week that it secured $400 million in a funding round led by cryptocurrency hedge fund Morgan Creek Digital. Other investors include 10T, ParaFi, Newflow Partners, Marcy Venture Partners, and the Commonwealth Bank of Australia. Until this financing round, Cameron and Tyler Winklevoss, who co-founded Gemini, had completely funded the exchange through their family office, Winklevoss Capital. Thanks in part to their efforts, Gemini is now valued at $7.1 billion. Tyler…

Funding platform Orica partners with NGO to use NFTs to build a school in Uganda

The rising number of social impact projects using digital art to fundraise for charitable causes marks a powerful development in the nonfungible token (NFT) space. One such project leveraging technology for social good is Orica, an ethical funding platform supporting artists and social impact organisations, or SIOs, to create and sell NFTs. Orica launched Thursday at the Malta AI & Blockchain Summit, or AIBC Malta, and announced its collaboration with an NGO to drop NFTs on its platform and use those funds to build a school in Uganda. WE ARE…

Binance.US aims for a ‘mega funding,’ reveals CZ

Binance CEO Changpeng Zhao revealed that the United States branch of worldwide crypto exchange, Binance.US, is expected to complete a funding round to raise a “couple hundred million.” Speaking at the Bloomberg New Economy Forum, CZ claimed that he was unaware of the precise amount. However, the official confirmation of the financing round may come in “about a month or two.” As reported by Cointelegraph, regulatory worries surrounding Binance.US ultimately resulted in investors backing out of a $100-million funding round. Brian Brooks, the former CEO of Binance.US, had initially chased potential…

$400M funding round to help Gemini build in the decentralized Metaverse

The Winklevoss twins’ crypto exchange Gemini will allocate capital from its $400 million funding round into building a “Gemini experience in different Metaverses.” Gemini announced that it had closed a $400 million equity growth funding round at a valuation of $7.1 billion on Nov. 18, marking the first time the firm had sought outside financing. Morgan Creek Digital led the round with participation from 10T, ParaFi, Newflow Partners, and Marcy Venture Partners to name a few. Notably, the Commonwealth Bank of Australia (CBA) — which also partnered with Gemini to…

Eldrige leads Digital Currency Group’s maiden $600 million debt funding round

On Thursday, the Digital Currency Group (DCG) announced that it has raised $600 million in a new credit facility, making its debut into the debt capital markets. The debt funding round was led by private equity firm Eldridge. The company stated that the increase, which provides DCG with a credit facility enabling it to draw on as needed, “enhances DCG’s strategic, operational, and financial capabilities” by lowering its cost of capital and boosting the development of its investment portfolio and fully owned enterprises. Another US$600m for @LunoGlobal parentco @DCGco to help…

Crypto Exchange Gemini Trust Looks for $7B Valuation In $400M Funding Round: Report

Crypto exchange Gemini Trust is raising $400 million in a new funding round which would bring its valuation to $7 billion, Bloomberg reported, citing people familiar with the matter. The round has not yet been finalized and could change, Bloomberg reported on Thursday. Gemini, which was co-founded by Cameron and Tyler Winklevoss, could not be reached for comment at the time of publication. Several crypto firms are taking advantage of current market conditions to raise money, including ConsenSys and OpenSea. ConsenSys is planning…

Crypto Exchange Gemini Trust Has $7B Valuation After $400M Funding Round

Crypto exchange Gemini Trust is raising $400 million in a new funding round that would bring its valuation to over $7 billion, the company announced on Thursday. Morgan Creek Digital is leading the capital round, which also includes 10T, ParaFi, Newflow Partners, Marcy Venture Partners and the Commonwealth Bank of Australia, among others. “We are leading the first outside investment in Gemini because of our shared conviction in crypto and belief in the company that Cameron and Tyler are building,” Morgan Creek Digital General Partner Sachin Jaitly said in the…

Solana-Based Sports Betting Protocol BetDex Closes $21M Seed Funding Round

Third parties will be able to use BetDex’s back-end infrastructure to run their betting platforms, which takes advantage of Solana’s high transaction speeds and low fees. BetDex says its protocol will charge a fee of less than 1% on net winnings, undercutting centralized competitors like FanDuel and DraftKings who typically charge 2-5%. Source 21MBetDexBettingClosesfundingProtocolSeedSolanaBasedSports CryptoX Portal