Hassan Maishera
TL;DR
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The Winklevoss-owned crypto exchange Gemini launched on the NASDAQ crypto exchange on Friday.
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Shares of the company rallied 14% on Friday after the company raised $425 million in an IPO offering.
Gemini Stock Rallies 14% as Exchange Debuts on NASDAQ
Gemini, the cryptocurrency exchange owned by the Winklevoss twins, has officially launched on the NASDAQ stock exchange. Trading under the ticker GEMI, Gemini joins a host of other cryptocurrency companies, including Coinbase and Circle, in launching on the stock exchange.
GEMI rallied 14% on Friday after Gemini raised $425 million in an initial public offering, with a valuation of roughly $3.3 billion. The stock opened at $37.01 on the Nasdaq, about 32% above where its IPO was priced at $28. GEMI surged as high as $45 during the trading hours on Friday before closing higher by 14.3%, at $32.
Gemini has been around since 2014 and is headquartered in New York. The company operates several crypto services, including a spot exchange, custody solutions for institutions, a U.S. dollar-backed stablecoin, a crypto rewards credit card, and staking products.
The exchange’s recent Proof of Reserves in July shows that Gemini holds more than $21 billion in assets on its platform. The IPO filings show Gemini lost $159 million in 2024 and $283 million in the first half of 2025.
The Winklevoss twins are optimistic about Bitcoin’s performance over the next few years, as they predict its price could hit $1 million a decade from now.
