Winklevoss’ Gemini IPO Raises $425M, GEMI Debuts on Nasdaq With $3.3B Valuation

• Gemini raised $425M at $28 per share in its Nasdaq IPO.
• Nasdaq invested $50M in GEMI stock alongside the IPO.
• GEMI joins Coinbase and Bullish as U.S.-listed crypto exchanges.

emini, the crypto exchange founded by Tyler and Cameron Winklevoss, debuted today on the Nasdaq Global Select Market under ticker GEMI. The IPO priced at $28 a share, at the top of its raised range, raising $425 million and valuing the company at roughly $3.3 billion.

Investor Demand Oversubscribed 20x

Orders for the 15.2 million shares were more than 20 times the available supply, reflecting strong institutional demand for exposure to crypto exchanges. The deal follows recent IPOs from Bullish and Figure Technology, showing that public markets are opening to digital asset firms.

Nasdaq Invests $50 Million Alongside IPO

Nasdaq itself committed $50 million in a private placement at the…

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