Cryptocurrency exchange Gemini, founded by Tyler and Cameron Winklevoss, has attracted Nasdaq as an investor ahead of its IPO in New York.
Nasdaq's Investment in Gemini
According to a Reuters report, Nasdaq will purchase $50 million worth of Gemini shares during the IPO through a private placement. This investment will allow Nasdaq clients to access Gemini's cryptocurrency custody and staking services.
IPO Expectations and Market
Gemini's shares are expected to start trading on the Nasdaq exchange on Friday under the ticker "GEMI." The IPO could raise up to $317 million for the company, coinciding with a strong demand for new listings in the U.S. stock market.
Gemini's Financial Position
Gemini is a large U.S. crypto exchange with $21 billion in assets and a trading volume of $285 billion. However, despite its size, the company has reported significant financial losses, with a net loss of $282.5 million in the first half of 2025.
With its IPO, Gemini aims to strengthen its position in the market, becoming the third publicly traded crypto exchange in the U.S., following Coinbase and Bullish.
