Gemini Crypto Exchange Fund Raise Puts Valuation at $7.1 Billion

Gemini Trust Co., the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, said it raised $400 million in a round of funding that values the company at $7.1 billion.

The exchange’s first-ever outside financing was led by Morgan Creek Digital with participation from the Commonwealth Bank of Australia and other investors. The bank is also partnering with Gemini to give its customers safe storage for tokens they buy and sell. Bloomberg first reported the funding round yesterday.

In addition to supporting trading, Gemini already custodies more than $30 billion in crypto assets, runs a marketplace for nonfungible tokens and lets ...