The Gemini Space Station, the exchange of cryptocurrencies founded by Tyler and Cameron Winklevos, increased its Nasdaq debut on Friday after raising $ 425 million in an initial public offer.
The company set the price of its opi on Thursday night at $ 28 per share, valuing Gemini at approximately $ 3.3 billion before the negotiation began. That price was above the reviewed range from $ 24 to $ 26 that established at the beginning of the week and well above the initial range of $ 17 to $ 19. The offer covered 15.2 million shares.
On Friday, the action opened to $ 37.01, a 32% premium at the offer price. The shares rose up to $ 45.89 during intradic negotiation before solving $ 32, even 14% above the level of closure.
Gemini, based in New York, operates a set of cryptographic services that include a spot exchange, custody solutions for institutions, a stablecoin backed by US dollar, a cryptographic credit card and rethink products. At the end of July, the company had more than $ 21 billion of assets on its platform. The presentations show that Gemini lost $ 159 million in 2024 and $ 283 million in the first half of 2025.
The Winklevos brothers, who became the first Bitcoin billionaires after the first investments in the cryptocurrency, appeared in “Squawk Box” of CNBC in the morning of the opi. Tyler Winklevos described Bitcoin as “Gold 2.0” and said that adoption remains in the “first entry.” He and his brother projected that Bitcoin could reach $ 1 million in the next decade.
The Gemini list follows those of Coinbase (COIN) In April 2021 and Alcista (BLsh)Owner of Coindesk, last month.
