admin Gemini crypto exchange made a powerful entry into the public markets with a $4.4 billion valuation. The company’s shares surged 32.2% in their Nasdaq debut, opening at $37.01 compared with an IPO price of $28. By selling 15.2 million shares, Gemini raised $425 million and attracted massive investor attention.
The listing comes during a rebound in the IPO market, where digital asset firms are leading the momentum. Gemini marketed its IPO in the $24 to $26 range, but overwhelming demand pushed the price higher. The offering was 20 times oversubscribed, underlining growing institutional appetite for cryptocurrency exchanges.
The strong debut follows a series of wins for the sector. Blockchain lender Figure saw a robust market entry earlier this week. Crypto exchange Bullish also doubled its value on opening trade last month. These successes have encouraged renewed optimism around digital assets, supported by friendlier regulation and rising institutional adoption.
Gemini’s journey has been defined by both challenges and resilience. Billionaire founders Tyler and Cameron Winklevoss now hold about 75 million shares, worth nearly $2.78 billion. The company, once entangled in regulatory probes, has found new footing under a more supportive policy environment. For the twins, the IPO represents not only expansion capital but also a chance to reinforce Gemini’s financial position.
Despite its successful debut, Gemini continues to face financial pressure. The company posted a net loss of $282.5 million in the first half of 2025, up from $41.4 million a year earlier. Analysts, however, remain optimistic. They expect institutional trading volumes, which make up most of Gemini’s business, to increase significantly.
Investor confidence has also been bolstered by a $50 million strategic investment from Nasdaq earlier this week. Dan Chen, Gemini’s chief financial officer, said the company remains committed to improving transparency and building on its decade-long ethos of trust in digital assets.
Gemini now joins Coinbase and Bullish among publicly traded U.S. cryptocurrency exchanges. Robinhood, with its digital asset services, also strengthens this growing segment. Together, these listings highlight how crypto firms are becoming integral to mainstream finance.
For Gemini, the Nasdaq debut marks a turning point. It showcases investor belief in its future while reflecting the broader resurgence of digital assets. With momentum on its side, Gemini steps forward as a key player in the evolving financial landscape.
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