Gemini shares jump after Winklevoss founders inject $100 million

Gemini Space Station shares rose more than 20% in premarket trading on May 15, 2026, after the crypto exchange posted a narrower-than-expected quarterly loss and received a $100 million investment from its founders. Winklevoss Capital Fund, owned by Cameron and Tyler Winklevoss, bought shares at $14 each and paid in bitcoin, Gemini said late May 14. The stock, priced at $28 in its IPO, closed May 14 at $5.26. Gemini reported a net loss of 93 cents a share for the quarter ended March 31, beating LSEG estimates for a $1.03 loss. Revenue rose 42% year over year to $50.3 million, helped by services and over-the-counter platform revenue. Evercore analyst Adam Frisch said the founder investment likely offset investor concern over weak user and revenue trends. Gemini is also facing a shareholder lawsuit, a 25% workforce reduction, international pullbacks and recent departures of top legal, financial and operating executives.