Gemini IPO Raises $425 Million, Valuing Company Over $3 Billion

Gemini, a US crypto exchange founded by the Winklevoss twins, has priced its IPO at $28 a share, raising $425m and valuing the company at over $3bn. Gemini will trade on Nasdaq under the ticker GEMI, following a record-breaking IPO for stablecoin issuer Figure Technology and a successful debut by Coinbase in 2021. The exchange has benefited from a pro-crypto stance from the Trump administration and regulatory relief, including a resolution to a lawsuit with the SEC.