On January 20, the cryptocurrency exchange Gemini acquired the cryptocurrency exchange Omniex. The company plans to combine Omniex with its existing custodial and over-the-counter services. Gemini provides custody and over-the-counter trading services to large investors, and the acquisition will allow it to provide clients with more sophisticated trading tools and access to external sources of liquidity. Rhythm previously reported that on November 18, 2021, Gemini, an encrypted trading platform, completed a $400 million financing at a valuation of $7.1 billion. This round of financing was led by Morgan Creek Digital, ParaFi Capital, Marcy Venture Partners, WnderCo, Commonwealth Bank of Australia, Newflow Partners, United Talent Agency, Jane Street, K5 Global, Pantera, VanEck and BoostVC participated.