Breaking: Gemini Crypto Exchange Raises $400 Million at $7 Billion Valuation
Gemini, the New York-based cryptocurrency exchange has become the latest to raise a multi-million funding round this bull season. As per a report in Forbes, Gemini is all set to close a $400 million first funding round that would give it a valuation of $7.1 billion. The latest funding round has nearly doubled the combined wealth of Tyler and Cameron Winklevoss from $6 billion to $10.5 billion.
Argentina has announced new taxation for crypto transactions based on the existing credits and debts. The announcement came on Wednesday reversing the earlier exemptions granted to third-party payment service providers and businesses.
The world’s largest cryptocurrency Bitcoin (BTC) has moved so far moved in a greater correlation with the U.S stock markets. Besides, several institutional players have also been gaining exposure to BTC over the last few months.
The decentralized finance, popular as DeFi, market is growing at an extraordinary pace over the past year as cryptocurrency traders and investors look for security and privacy from the prying eyes of the government and third parties. One area witnessing magnificent growth is decentralized exchanges (or DEXs), which have soared from $4.38 billion to $34 billion in total volume transacted over the past year, data from DeFi Pulse show.
Chinese authorities are determined to clean crypto off the face of China, and its latest crackdown proves that they are getting closer to their aim. Today, the Xuzhou police unveiled their success in cracking down one of the biggest cryptocurrency pyramid schemes in China, which involved 110,000 members nationwide.