Quick Breakdown
- Gemini raises IPO price range to $24–$26, targeting $3B+ valuation.
- Nasdaq backs offering with $50M private placement.
- The move reflects Wall Street’s rising appetite for crypto listings.
Crypto exchange Gemini has raised the stakes for its upcoming initial public offering (IPO), setting its sights on a valuation of over $3 billion as it prepares to list on Friday.
Gemini Ups IPO Pricing
In a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday, the exchange—founded by Cameron and Tyler Winklevoss—announced it would now price its stock between $24 and $26 per share, up from the earlier range of $17 to $19.
The company plans to sell 16.67 million shares, keeping the offering size unchanged but increasing its fundraising target to $433 million, compared to $317 million in its September 2 filing.
Nasdaq Backs Offering
Adding weight to the listing, Nasdaq has committed to purchasing 2.11 million shares worth $50 million through a private placement, Gemini revealed. Despite reporting $68.61 million in revenue for the first half of 2025, a drop of $5.71 million year-over-year, the firm posted a wider net loss of $282.47 million, up sharply from $41.37 million in the same period last year.
On a brighter note, Gemini recorded a 50% surge in trading volume, hitting $24.8 billion in the first six months of the year.
Surge in Crypto Listings
Gemini’s IPO follows a wave of crypto-related companies making Wall Street debuts amid a friendlier stance toward the sector under the Trump administration. Circle, the issuer of USDC, soared 167% on its New York Stock Exchange (NYSE) debut before closing at $118.10. Bullish, a crypto exchange and media operator, surged 218% on its listing day.
Coinbase broke ground in May as the first crypto firm added to the S&P 500 index. The announcement by S&P Global on May 12 revealed that Coinbase will replace Discover Financial Services, which Capital One is currently acquiring. Meanwhile, rival exchange Kraken is reportedly seeking to raise $500 million at a $15 billion valuation.
If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
