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.