Gemini’s $2.1 billion bet: Will the next IPO of cryptocurrencies win Wall Street?
Source: CoinWorld
Time: 2025-09-08 06:44:16
Gemini, founded by the Venklevos brothers, has applied for an IPO on Nasdaq under the stock code "GEMI", plans to raise about $272 million and a valuation of about $2.1 billion. The exchange plans to issue 16.67 million shares with an issue price of between $17 and $19, competing with major cryptocurrency exchanges such as Coinbase. Although Gemini reported a net loss of $282.5 million in the first half of 2025, its historical trading volume has reached $285 billion and holds a MiCA license to expand in Europe. The IPO was underwritten by Goldman Sachs and Citigroup, and is in line with the growing trend in institutional cryptocurrency adoption.