Winklevoss Twins Debut Gemini IPO at $28, Shares Begin Trading on Nasdaq

Lead Tyler and Cameron Winklevoss launched their long-awaited initial public offering for Gemini on Friday, pricing shares at $28 and raising $425 million amid record investor demand.

Nut Graf The twins’ crypto exchange debuts on the Nasdaq Global Select Market under ticker GEMI, marking a landmark public listing in the booming digital‐asset sector and underscoring shifting regulatory tides and renewed market confidence.

Oversubscribed Offering and Valuation

Gemini offered 15.2 million shares, drawing orders more than 20 times the available stock before capping proceeds at $425 million.
The IPO assigns Gemini a non‐diluted valuation of approximately $3.33 billion.

Strategic Private Placement

Nasdaq committed to a $50 million private placement alongside the public sale, reinforcing institutional support.

Regulatory Backdrop and Market Context

The listing comes amid a crypto‐friendly regulatory environment under the Trump administration, which has eased scrutiny of digital‐asset firms.
Gemini is nearing resolution of an SEC lawsuit over its former crypto‐lending program, with a status report due September 15.

Trading Debut and Outlook

Trading kicks off today under the symbol GEMI, with market watchers eyeing how Gemini will fare against established peers like Coinbase and Bullish.
The twins hope the public listing cements their roles as leading voices in crypto, leveraging Gemini’s compliance‐first strategy and robust trading volumes to drive future growth.