Gemini, the cryptocurrency exchange founded by the Winklevoss twins, Cameron and Tyler, has set its sights on a U.S. initial public offering (IPO) that could potentially raise up to $317 million, valuing the firm at approximately $2.22 billion. This move represents a significant milestone for the company as it seeks to capitalize on the growing interest in digital assets within public markets.
According to a report by Finance Magnates, Gemini Space Station, Inc. plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “GEMI.” The company intends to offer 16.67 million shares priced between $17 and $19 each, with underwriters having the option to purchase an additional 2.5 million shares within a 30-day period. Leading the underwriting syndicate are prominent financial institutions such as Goldman Sachs, Citigroup, Morgan Stanley, and Cantor, along with other investment banks.
Gemini reported revenue of $142.2 million for 2024, a notable increase from $98.1 million the previous year. While the exchange is smaller in scale compared to industry giant Coinbase, the uptick in trading activity during the previous year’s cryptocurrency rally has bolstered its financial performance.
Established in 2014, Gemini has positioned itself as a regulated exchange catering to U.S. investors. Despite facing challenges, including a regulatory dispute with bankrupt lender Genesis, the company continues to pursue growth in a competitive market. The IPO announcement comes as other crypto firms, such as Circle, eToro, and Bullish, have also made their way to the U.S. public markets, signaling a resurgence of interest in digital assets.
The decision to go public could attract investors looking to capitalize on the broader adoption of cryptocurrencies, although Gemini has cautioned that the success of the IPO is contingent on market conditions and may be subject to changes.
As the story continues to evolve, it will be crucial to monitor how Gemini’s IPO unfolds and its implications for the broader cryptocurrency industry.
#Gemini #IPO #Cryptocurrency #FinanceNews #DigitalAssets
References:
1. Finance Magnates: [Gemini Targets $317 Million in IPO, Valuing Exchange at $2.2 Billion](https://www.financemagnates.com/cryptocurrency/gemini-targets-317-million-in-ipo-valuing-exchange-at-22-billion/)
2. PYMNTS: [Gemini Targets $2.1 Billion Valuation in IPO](https://www.pymnts.com/news/ipo/2025/gemini-targets-2-billion-dollar-valuation-ipo/)
3. PYMNTS: [Klarna Targets $14B Valuation as Its ‘Disruptive Brand’ Readies IPO](https://www.pymnts.com/news/ipo/2025/klarna-targets-14-billion-dollar-valuation-disruptive-brand-readies-ipo/)
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