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 a massive expansion after it raise $200 million at a $3.2 billion valuation, the company said yesterday.Bitcoin hit a new all-time high price of over $68,000 just 10 days ago, while a quarter of global fund managers expect bitcoin to hit over $75,000 in 12 months, a November Bank of America survey found.

Read more: Winklevoss-Led Gemini Behind Bitcoin White Paper Excerpts on NYC Billboard

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