Gemini Eyes $2.22B Valuation as Winklevoss Twins Fuel Explosive IPO Momentum

Gemini—the crypto exchange backed by the infamous Winklevoss twins—just dropped a bombshell valuation target that's turning heads across Wall Street and Silicon Valley.

IPO HEAT WAVE

Forget waiting for the crypto winter to thaw—Gemini's charging ahead with a $2.22 billion price tag. That’s not just ambition; it’s a statement. The twins are betting big that institutional adoption isn’t just coming—it’s already here.

TWIN POWER

Tyler and Cameron Winklevoss aren’t just faces on a Forbes cover anymore. They’re pushing Gemini into the public markets with the same relentless drive that defined their early legal battles and crypto advocacy. Love ’em or hate ’em, they know how to make noise.

MARKET MUSCLE

While traditional finance scoffs at 'unproven' crypto business models, Gemini’s move signals a deeper shift. Regulated, audited, and now eyeing public liquidity—this isn’t a dark web operation; it’s a full-blown financial platform built for the next era.

Of course, in a world where IPO valuations sometimes feel more like creative writing exercises than financial projections, only time will tell if Gemini’s number is genius—or just wishful thinking.

TLDR:

• Gemini targets $2.22B IPO to join ranks of U.S. public crypto exchanges
• Gemini seeks $317M IPO boost with Nasdaq debut under ticker “GEMI”
• Winklevoss-led Gemini preps IPO after $2.18B Earn program payout
• Crypto comeback fuels Gemini’s IPO bid and ambitious growth plans
• Gemini’s IPO eyes crypto credibility with SEC filing and Nasdaq listing

Gemini Space Station, Inc., has announced plans for an initial public offering (IPO) targeting a $2.22 billion valuation. The IPO includes 16,666,667 shares of Class A common stock priced between $17.00 and $19.00. Pending market approval, Gemini aims to raise up to $317 million from the offering.

IPO Launch Highlights Ambitious Valuation Strategy

Gemini’s IPO marks a significant step toward becoming the third publicly traded crypto exchange in the United States. The company has filed a registration statement with the U.S. Securities and Exchange Commission (SEC). It will list shares on the Nasdaq Global Select Market under the symbol “GEMI.”

Underwriters may purchase an additional 2.5 million shares to cover over-allotments. This includes 2,396,348 shares from Gemini and 103,652 from selling stockholders. The IPO is subject to final SEC approval and market conditions.

Goldman Sachs and Citigroup are lead bookrunners managing the IPO process. Morgan Stanley and Cantor also share lead roles in the offering. A group of other financial firms will serve as bookrunners and co-managers.

Gemini Capitalizes on Favorable Market and Sector Momentum

The IPO follows a strong wave of public listings in 2025, especially among fintech and tech-forward firms. Gemini enters the public market after the successful IPOs of Bullish and Circle, boosting confidence for crypto exchanges. Strong performances from companies like Chime Financial and Firefly Aerospace further support favorable timing.

Gemini’s listing comes at a time when crypto prices have rebounded and broader markets have stabilized. The company aims to leverage this momentum to secure significant capital through its IPO. Growing regulatory clarity and mainstream acceptance of digital assets have strengthened the environment for crypto-related IPOs.

Gemini Completes Earn Program Repayment Amid IPO Push

Gemini has finalized a $2.18 billion settlement related to its Earn program. The repayment follows a legal agreement with Genesis and the New York Attorney General. Earn users will recover 100% of their digital assets after 18 months of withdrawal suspension.

Gemini originally launched the Earn program in 2021 to offer returns through institutional lending. The program was disrupted in late 2022 when Genesis halted operations, prompting Gemini to freeze withdrawals. With the new resolution, about 97% of owed assets are now distributed to user accounts.

This repayment reflects Gemini’s focus on compliance and user trust ahead of its IPO. The settlement may enhance public perception of the company’s operational integrity. Gemini’s IPO arrives amid renewed interest in digital asset platforms entering public markets.