Winklevoss
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, received U.S. Commodity Futures Trading Commission approval for a derivatives clearinghouse license. The approval enables the company to expand into regulated derivatives and prediction markets. Gemini shares rose about 7% following the announcement.
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The cryptocurrency exchange Gemini, founded by Cameron and Tyler Winklevoss, is navigating difficulties following a more than 40% drop in bitcoin prices. This decline has erased the bull market that supported the company's expansion plans. As a money-losing entity, Gemini must quickly adapt amid limited room for mistakes.