Gemini Secures $75 Million Credit Line from Ripple Ahead of IPO

Cryptocurrency exchange Gemini has secured a substantial credit line of $75 million from Ripple Labs as it prepares for its upcoming Initial Public Offering (IPO). The company’s SEC filing on August 15th revealed this arrangement, providing valuable insights into its financial strategy. This credit line enables Gemini to borrow up to $75 million, with the possibility of increasing it by an additional $75 million if performance goals are met. Each loan will require a minimum amount of $5 million and carries interest rates ranging from 6.5% to 8.5%, secured by collateral.