GEMINI BEATS Q1 ESTIMATES, SECURES $100M FUNDING
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Gemini reported Q1 revenue of $50.3M, exceeding analyst expectations of $47.9M with 42% year-over-year growth. The crypto exchange announced a $100M capital injection from Winklevoss Capital Fund, sending shares up 22% in after-hours trading.
■ MORE FROM THE CRYPTO DESK
Miami-based Cyclops secured $20M in Series A funding for its infrastructure platform that integrates crypto and stablecoin services into payment systems. The platform addresses a growing gap between stablecoin settlement capabilities and payment provider adoption.
Christopher Giancarlo, former Commodity Futures Trading Commission chair, says current prediction market regulations require refinement. Giancarlo, now joining Jefferies as senior adviser for investment banking, discussed the regulatory landscape during a Bloomberg Crypto appearance.
The SEC has postponed a plan that would have granted broad exemptions allowing US crypto firms to trade tokenized versions of stocks. The delay affects a significant expansion of crypto assets linked to traditional equities.
Kelp DAO has completed recovery of its restaked Ether token following a five-week effort to address a $293 million exploit attributed to North Korea's Lazarus Group in April.