Gemini, the cryptocurrency trade based by Cameron and Tyler Winklevoss, has lined up Nasdaq as a strategic investor because it prepares to go public in New York this week, Reuters reported on Sept. 9, citing folks briefed on the matter.
Based on the report, the share sale may elevate as much as $317 million, with Nasdaq anticipated to purchase about $50 million of inventory in a personal placement on the time of the providing.
Gemini plans to commerce underneath the ticker image “GEMI.”
The association is greater than monetary and Nasdaq’s stake will likely be paired with a partnership giving its institutional purchasers entry to Gemini’s custody and staking merchandise. In return, Gemini prospects will be capable of use Nasdaq’s Calypso platform to trace and handle collateral.
Neither Nasdaq nor Gemini commented on the main points. Reuters famous that the trade’s plans may nonetheless shift relying on market circumstances.
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The providing comes as U.S. fairness markets present renewed demand for brand new offers, with tech and crypto-related firms drawing sturdy investor curiosity. A profitable debut would make Gemini the third publicly traded trade after Coinbase and Bullish.
Gemini at the moment holds about $21 billion in consumer property and has processed greater than $285 billion in buying and selling quantity. Its enterprise spans retail and institutional providers, an over-the-counter desk, a bank card and buying and selling in main tokens together with Bitcoin, Ethereum and stablecoins.
Financially, the corporate reported a web lack of $282.5 million on $68.6 million in income for the primary half of 2025, widening from a $41.4 million loss a yr earlier.
The Winklevoss twins, who first rose to prominence by way of their authorized battle with Fb, invested closely in Bitcoin within the early 2010s and have become often called the “Bitcoin twins.” Their bid to take Gemini public is testomony to how deeply digital property are actually tied to Wall Road.