Tiger Global and Partners Bet $433M on Gemini’s Crypto Bridge to Traditional Finance

Gemini Trust Co., the New York-based digital asset exchange co-founded by the Winklevoss twins, has raised $433 million through a new investment round, valuing the firm at $3 billion, according to multiple reports. This significant capital injection reflects growing institutional confidence in the crypto market and Gemini's expanding footprint in the regulated digital asset space. The funding will be used to support Gemini’s continued expansion, including the development of new products and infrastructure to serve institutional and retail clients.

The investment round was led by Tiger Global Management, a prominent Silicon Valley-based venture capital firm, which has increased its stake in Gemini. Existing investors, including DST Global and General Atlantic, also participated. The $3 billion valuation marks a substantial increase from Gemini’s previous $1.6 billion valuation in 2021, underscoring the firm’s strategic progress in a market that has faced regulatory scrutiny and volatility in recent years.

Gemini has been positioning itself as a bridge between traditional finance and the crypto ecosystem by offering services such as custody solutions, trading, and staking. The company has also launched a suite of institutional-grade products, including the Gemini Custody service and the Gemini Exchange. These offerings have attracted a diverse clientele, ranging from hedge funds to individual investors. The firm also operates Gemini Prime, its service for professional traders, and Gemini Retail, which is tailored for everyday investors.

The firm’s regulatory compliance approach has been a cornerstone of its strategy. Gemini operates under the New York Department of Financial Services (NYDFS) and has received a conditional BitLicense, making it one of the few crypto firms in the U.S. to operate under such a framework. The company’s focus on regulatory alignment has been a differentiator in an industry often characterized by ambiguity and rapid regulatory shifts. This strategy has helped Gemini attract capital from investors seeking crypto exposure with a degree of institutional assurance.

Analysts have noted that the funding round comes at a pivotal moment for the crypto market. Despite a broader bearish trend in digital assets, Gemini’s valuation increase highlights the ongoing interest from institutional investors in crypto infrastructure. The firm’s expansion into staking, ESG-linked digital assets, and cross-border payment solutions further demonstrates its attempt to diversify its revenue streams and reduce dependence on volatile market conditions.

The $433 million raise also aligns with broader trends in venture capital investment in fintech and blockchain infrastructure. With macroeconomic conditions stabilizing and regulatory clarity improving, venture capital firms are once again showing interest in crypto-native businesses. Gemini’s ability to secure significant funding in this environment signals a level of confidence in its long-term growth potential and operational scalability.