Crypto exchange Gemini is preparing for its initial public offering (IPO) expected on Friday. According to Reuters, the IPO has already oversubscribed more than 20 times.
Expectations and Subscription
According to Reuters, Gemini and its bankers stopped accepting new orders for shares on Thursday, which is considered "unusual" for an IPO. This decision capped proceeds at $425 million.
Investors and Partnerships
Among Gemini's investors is the technology stock exchange Nasdaq, which is reportedly purchasing $50 million in shares as part of a strategic partnership.
Comparison with Other Crypto IPOs
While Figure Technologies' IPO has been successful, it did not match the investor interest seen by other companies like Circle and Bullish, which experienced significant stock price increases on their trading debut.
Gemini's upcoming IPO highlights the continued interest from investors in cryptocurrencies and blockchain technologies, as well as the market's readiness to embrace new public companies.
