Nasdaq to invest $50 million in crypto exchange Gemini

PANews September 9th news, people familiar with the matter revealed that Gemini, a crypto exchange founded by brothers Cameron Winklevoss and Tyler Winklevoss, is advancing plans to go public in New York this week and has successfully attracted Nasdaq as its strategic investor. Gemini's initial public offering (IPO) is said to raise up to $317 million in funds, and has arranged for Nasdaq to purchase $50 million worth of shares during its IPO. The investment is part of a partnership program that will enable Nasdaq customers to use Gemini's hosting and staking services, people familiar with the matter said. Gemini's institutional customers can also use Nasdaq's Calypso platform to manage and track transaction collateral. Gemini is expected to be listed on the Nasdaq on Friday under the stock code "GEMI". The company's plans depend on market conditions and may change, people familiar with the matter warned.