Gemini Jumps 11.5% on Apex Deal for Exclusive Crypto Contract Settlement
Updated
Updated · Yahoo Finance · Aug 25
Gemini Jumps 11.5% on Apex Deal for Exclusive Crypto Contract Settlement
3 articles · Updated · Yahoo Finance · Aug 25
Summary
Gemini shares rose 11.5% by 2:55 p.m. ET after the company said it signed a letter of intent with Apex Fintech Solutions and is expanding into prediction markets.
Under the proposed deal, crypto event contracts offered through Apex's brokerage network would be placed and settled exclusively on Gemini's platform if the agreement is finalized.
The companies also said they could collaborate on sports, economics and financial-market contracts, though those categories would not be exclusive.
The letter of intent is nonbinding and the terms are still being negotiated, leaving execution risk alongside the longer-term threat of tighter regulation for prediction markets.