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Crypto Exchange Gemini Goes Public on Nasdaq With $4.4B Valuation
Crypto Exchange Gemini Goes Public on Nasdaq With $4.4B Valuation
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BTCCSquare news:
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, made its highly anticipated debut on Nasdaq under the ticker GEMI. The IPO raised $425 million, with shares initially priced at $28 but opening at $37.01, catapulting the firm's valuation to $4.4 billion.
Nasdaq's $50 million investment in Gemini underscores growing institutional confidence in crypto. The Winklevoss twins retain 94.5% voting power, ensuring continuity in leadership despite the public listing.
The offering included 15.2 million shares, with underwriters holding a 30-day option for an additional 750,000 shares. Retail investors received up to 30% allocation, signaling broader market participation in crypto's maturation.
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