Gemini Shatters Expectations: IPO Target Soars to $433M with $26 Share Price

Gemini just dropped a bombshell on Wall Street—upping their IPO target to a staggering $433 million while pricing shares at $26 apiece.

The Crypto Power Move

They're not just testing the waters—they're making a statement. With traditional finance still scratching its head over digital assets, Gemini's aggressive pricing signals serious confidence in crypto's staying power.

Market Momentum Builds

This isn't just another IPO—it's a benchmark moment for crypto-native companies seeking mainstream validation. The numbers speak for themselves: $433 million isn't pocket change, even for Wall Street's heavy hitters.

Timing Is Everything

Launching at $26 per share puts Gemini in an interesting position—high enough to show value, accessible enough to draw retail interest alongside institutional whales. Because nothing says 'democratization of finance' like letting everyone overpay for shares together.

Bottom Line: Gemini's betting big that traditional investors are finally ready to embrace crypto—or at least embrace the profits it generates. Sometimes the best investment strategy is just following the money, even when it's digital.

Next steps

The company also revealed that Nasdaq Inc. will invest directly via a private placement at the IPO price, contingent on the offering’s close. Gemini plans to reserve 10% of shares for long-time users, employees, and family and up to 30% for retail investors through platforms like Robinhood, SoFi, and Webull.

Founded in 2014 by Cameron and Tyler Winklevoss, Gemini runs a crypto platform with spot trading, staking, custody, a crypto rewards card, and a USD-backed stablecoin. The firm currently oversees more than $18 billion in assets, the filing shows.

Financials reveal a widening gap: Gemini posted a $282.5 million net loss on $68.6 million in revenue for the first half of 2025, compared to a $41.4 million loss on $74.3 million in revenue for the same period in 2024.

The IPO will be led by Goldman Sachs and Citigroup, and Gemini is set to list under the ticker GEMI on the Nasdaq Global Select Market.

Gemini’s IPO is more than a capital raise, it’s a stress test for crypto’s public equity narrative. With centralized exchanges under pressure and investor scrutiny sharpening post-FTX, the strong demand for GEMI shares could reset the tone for crypto’s next wave of Wall Street debuts. But with a widened loss profile and a frothy valuation, Gemini may have just raised the bar, and the risk.

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