Gemini Space Station: signed term sheet to offer custody, staking of crypto assets to Nasdaq’s clients, including listed firms

Gemini Space Station: signed term sheet to offer custody, staking of crypto assets to Nasdaq’s clients, including listed firms

Title: Gemini Space Station Secures Nasdaq as Strategic Investor for IPO

Gemini Space Station, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has secured Nasdaq as a strategic investor as it moves forward with plans for a New York listing. The exchange is expected to raise up to $317 million in the initial public offering (IPO), with Nasdaq purchasing $50 million in shares via a private placement at the time of the IPO [1].

The investment is part of a partnership that will give Nasdaq's clients access to Gemini's custody and staking services. Gemini's institutional clients will also have access to Nasdaq’s Calypso platform to manage and track trading collateral. The partnership aligns with Nasdaq’s push into tokenized securities and Gemini’s European tokenized stock offerings [3].

Gemini expects to trade on the Nasdaq on Friday under the ticker "GEMI". The company’s plans are subject to market conditions and could change [1].

The crypto exchange’s IPO comes as U.S. equity capital markets rebound, with strong demand for new listings. Recent listings, such as design software maker Figma and space technology firm Firefly Aerospace, drew robust investor demand on their first day of trading [1].

Gemini’s flotation would make it the third publicly traded crypto exchange after Bullish and Coinbase, the first crypto exchange to join the S&P 500. Gemini is among the biggest U.S. crypto trading platforms by trading volume, according to data provider Kaiko. It holds $21 billion in assets and has handled $285 billion in lifetime trading volume [1].

Gemini reported a net loss of $282.5 million on revenue of $68.6 million for the six months ended June 30, compared with a net loss of $41.4 million on $74.3 million a year earlier, according to an earlier filing with the U.S. Securities and Exchange Commission [1].

References:
[1] https://ca.finance.yahoo.com/news/exclusive-winklevoss-founded-crypto-exchange-090622910.html
[2] https://www.reuters.com/business/media-telecom/winklevoss-founded-crypto-exchange-gemini-taps-nasdaq-strategic-investor-sources-2025-09-09/
[3] https://en.coinotag.com/nasdaq-may-purchase-50m-in-gemini-ipo-could-integrate-custody-and-staking-bitcoin-mentioned/