Winklevoss’ Gemini jumps 25% on $100 million bitcoin infusion despite deepening losses

60-second summary

Gemini's revenue surged 42% year-over-year to $50.3 million, its net loss narrowing by 27% to $108.7 million from $149.3 million a year earlier. The company's improved financials were buoyed by a $100 million bitcoin infusion, causing its valuation to jump 25% despite deepening losses, indicating a potential turnaround for the struggling crypto exchange. Market sentiment remains cautiously optimistic.