Gemini Plans Nasdaq IPO with 16.7 Million Shares

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is taking a significant step toward mainstream financial markets with its planned initial public offering. The company intends to list 16.7 million Class A shares on the Nasdaq exchange, pricing them between $17 and $19 apiece under the ticker symbol "GEMI."

Goldman Sachs and Citigroup are leading the underwriting syndicate, with Morgan Stanley and Cantor Fitzgerald also participating. This IPO represents a milestone for the crypto industry, demonstrating growing institutional acceptance despite recent market volatility.

The move comes as cryptocurrency exchanges face increasing competition and regulatory scrutiny. Gemini's public listing could provide the capital needed to expand its services and compete with larger rivals in the evolving digital asset landscape.