Gemini’s upsized IPO targets a valuation above $3 billion after the exchange raised its price range to $24–$26 per share; Nasdaq is backing the debut with a $50 million private placement, reflecting growing institutional interest in crypto exchanges.
Gemini IPO priced between $24–$26 per share, seeking a valuation above $3 billion.
Nasdaq will buy 2.11 million shares in a $50 million private placement to support the listing.
Gemini reported $68.61M revenue for H1 and saw trading volume rise to $24.8B, while net loss widened to $282.47M.
Gemini IPO: Upsized offering targets $3B+ valuation; read revenue, Nasdaq backing, and trading volume details. Learn what investors should watch.
What is the Gemini IPO update?
Gemini IPO has been upsized to a $24–$26 share range, aiming for a valuation above $3 billion and planning to sell roughly 16.67 million shares to raise about $433 million. Nasdaq is participating via a $50 million private placement to support the debut.
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How did Gemini change its prospectus and why does it matter?
The updated prospectus filed with the Securities and Exchange Commission shows an increased offering price range from $17–$19 to $24–$26. This upsizing signals stronger investor demand for crypto exchange equities and positions Gemini alongside other crypto firms pursuing public markets.
The company will still offer roughly 16.67 million shares. Raising $433 million, up from the initial $317 million target, increases Gemini’s public capital while establishing a valuation benchmark for comparable crypto exchanges.
How does Nasdaq’s backing affect the Gemini IPO?
Nasdaq’s support includes a $50 million private placement for 2.11 million shares. That commitment provides immediate market confidence and liquidity for the offering, which can help stabilize the stock at listing and attract institutional investors.
Nasdaq’s participation is notable given recent public debuts of crypto-related firms and signals exchange-level confidence in Gemini’s market positioning.
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Gemini reported total revenue of $68.61 million for the six months ended June 30, a decline from the prior year period. Trading volume increased to $24.8 billion for the same period, up nearly 50% year-over-year. Net loss widened to $282.47 million, from $41.37 million the prior year.
These figures show growing platform activity but rising costs and investments tied to expansion and compliance efforts.
Investor interest has risen amid a friendlier regulatory and political tone toward crypto. Recent listings—such as Circle’s NYSE debut and strong first-day gains for Bullish—demonstrate market appetite for crypto infrastructure and payments companies.
Other notable developments: Coinbase’s inclusion in the S&P 500 and reported fundraising for Kraken highlight wider institutional support for crypto exchanges and related firms.
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