Gemini is preparing for one of the most closely watched crypto listings of the year, lifting the price range of its initial public offering to between $24 and $26 per share.
At that level, the New York-based exchange, led by Cameron and Tyler Winklevoss, could be valued at roughly $3.2 billion.
The revised target significantly boosts Gemini’s fundraising ambitions. If shares are priced at the top of the range, the company would raise about $435 million — a sharp increase from the $317 million implied by its earlier goal of $17 to $19 per share. The offering covers 16.7 million shares under the ticker GEMI.
The listing comes during an active season for fintech IPOs, with renewed demand for public offerings tied to the digital economy. Whether Gemini’s debut can sustain momentum will depend on its ability to reassure investors about financial stability while navigating regulatory headwinds.
Political Storm Over CFTC Nominee
Regulation remains a thorny issue for Gemini, and controversy flared just days before the company’s planned debut. Brian Quintenz, President Donald Trump’s nominee to chair the Commodity Futures Trading Commission (CFTC), publicly released text messages from Tyler Winklevoss.
The messages revealed Gemini’s frustration with what it viewed as unfair enforcement practices by the regulator’s Inspector General. Winklevoss pressed Quintenz to review the matter, aligning his appeal with Trump’s push to reform financial oversight. Quintenz rejected the notion of special treatment, pledging only to handle the issue “fully and fairly” if confirmed.
The disclosures add an unexpected layer of scrutiny as Gemini prepares to step into the public markets. For the exchange, the IPO represents both a milestone in mainstream acceptance and a test of whether investors are willing to look past regulatory tensions to bet on its future.
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Source: https://coindoo.com/gemini-eyes-3-2-billion-valuation-in-ipo-amid-regulatory-scrutiny/