Gemini Shares Surge 21% Following Nasdaq IPO, Valuing Crypto Exchange at $3.3 Billion

Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, made a striking Nasdaq debut on September 12, 2025. The company raised $425 million by offering 15.2 million shares at $28 each, with shares soaring 21% to close at $33.88. At its peak, the stock touched $45.89, pushing Gemini's valuation to $3.3 billion—a watershed moment for crypto exchanges entering public markets.

The IPO reflects renewed institutional confidence in digital assets, bolstered by a favorable regulatory climate under the Biden administration. Gemini joins a wave of crypto firms like Circle and Bullish that have gone public this year, signaling broader market maturation. The Winklevoss brothers' combined 75 million shares now represent a $2.78 billion stake, marking a dramatic turnaround for the exchange after recent operational challenges.