Gemini Upsizes IPO To Raise $425 Million, Winklevoss Twins-Founded Crypto Exchange Targets $3 Billion Valuation

Aniket Verma

September 11, 2025

Cryptocurrency exchange Gemini raised $425 million in an initial public offering, pricing its shares above the expected range, according to an announcement made late Thursday.

Gemini Potentially Worth Over $3.2 Billion

The company, founded by billionaire twin brothers Cameron and Tyler Winklevoss, sold approximately 15.178 million shares at $28 each. This exceeded the initially projected range of $24 to $26 per share.

This values the company, listed as Gemini Space Station in SEC filings, at $3.32 billion on a non-diluted basis, based on the 118,783,069 outstanding shares previously disclosed.

Gemini is expected to begin trading on Nasdaq under the ticker “GEMI” on Friday. Goldman Sachs Group Inc. (NYSE:GS) and Citigroup Inc. (NYSE:C) are the lead underwriters.

See Also: Ethereum Consolidates Below $4,500: Is A New All-Time High Run Coming Soon?

Gemini Joins Coinbase, Bullish

The successful IPO comes after a series of significant events for the cryptocurrency company. Just days before the IPO, Gemini secured a strategic investment from Nasdaq, which committed to purchasing $50 million worth of shares at the time of the IPO.

Gemini, despite reporting a net loss of $282.5 million in the first half of 2025, filed to go public on Nasdaq, joining the surge of digital-asset firms moving onto U.S. stock exchanges. Gemini’s offering would make it the third publicly traded crypto exchange, alongside Coinbase Global Inc. (NASDAQ:COIN) and Bullish (NYSE:BLSH).

Its business spans over-the-counter trading, a cryptocurrency-backed credit card, and support for major tokens, including Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and stablecoins.

Price Action: Coinbase shares, meanwhile, closed up 2.73% at $323.95, while Bullish closed 2.60% higher at $53.99 during Thursday’s regular trading session, according to data from Benzinga Pro.

As of this writing, COIN demonstrated a very high Momentum and Growth score. Visit Benzinga Edge Stock Rankings to see how it compares with BLSH stock.

Read Next:

The IPO Floodgates Just Opened for Fall--And These Sectors Are Leading the Charge Back

Photo Courtesy: Primakov on Shutterstock.com

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Recommended

[Revealed] Trump's Next AI Executive Orders? - Ad

Could You Use Some Instant Cash Upfront? - Ad

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

"Mad Money" star Jim Cramer discusses MP Materials, Resideo Technologies and Canadian National Railway on Friday, Sept. 12.

Tucker Carlson Asks OpenAI CEO Sam Altman If He Ordered Employee's Murder

During an interview with OpenAI CEO Sam Altman, Tucker Carlson suggested Altman may have played a role in the death of former employee Suchir Balaji.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

The AI company making heart disease easier to detect is offering investors $3.50 investment units that include one convertible preferred share and one warrant, providing investors with access to 2 common shares. Based on analyst 1- year projections, that amounts to a near-term 500% return potential.

US firm agrees $500 million investment deal with Pakistan for critical minerals

ISLAMABAD (AP) — A U.S. metals company signed a $500 million investment deal with Pakistan on Monday.

Jim Cramer Expects Palantir To Reach New All-Time High

Market analysts and financial commentators provide crucial guidance in the volatile investment landscape. Cramer says no to VKTX, but expects PLTR to go up.

Gold Is Being Reintroduced Into the Monetary System

Gold Is Being Reintroduced Into the Monetary System - Ad

While the media focuses on political scandals, inflation and coming up with ridiculous acronyms "TACO"... Smart money is tracking a far bigger shift: a gold revaluation is quietly underway. Garrett Goggin, CFA, says this could trigger 100X moves in select miners - and he's identified four with the biggest upside.

Stock Market Today: S&P 500 Futures Gain, Dow Tumbles Ahead Of Crucial Payrolls Report—Broadcom, DocuSign, Lululemon In Focus

U.S. stock futures were fluctuating on Friday following Thursday's positive moves. Futures of major benchmark indices were mixed.

Wizard Of Oz Fed And $100 Silver, 'Most Dangerous Time In 40 Years'

Veteran investor Peter Grandich is warning that the market is overlooking the biggest signals in decades, with precious metals and insider selling flashing red.

Inside: What's Going on Behind the Scenes in DC?

Inside: What's Going on Behind the Scenes in DC? - Ad

Former CIA officer Buck Sexton just met with Trump and VP J.D. Vance - and what he uncovered inside the West Wing is stunning. With ties to Tulsi Gabbard, Mike Johnson, Kash Patel, and more, he's rushing this urgent interview to reveal shocking secrets unfolding behind the scenes right now.

Murdoch Family Succession Battle Settled: Fox News Will Stay Conservative

The Murdoch family's succession battle has ended, with Lachlan Murdoch cemented as the new leader of Rupert Murdoch's vast media empire.

US immigration officers raid Georgia site where Hyundai makes electric vehicles

SAVANNAH, Ga. (AP) — U.S. authorities on Thursday raided the sprawling site where in southeast Georgia, shutting down construction on an adjacent factory being built to produce EV batteries.

From Ore to Gold Bars-This Nevada Mine Is Already Producing

From Ore to Gold Bars-This Nevada Mine Is Already Producing - Ad

Most juniors explore...Few actually produce. This one's already pouring gold thanks to infrastructure that would cost tens of millions to build today. With major land holdings and room to scale, it's one to watch. Discover the little known gold company that's already producing.

Trump Could 'Zimbabwify' America, Says Economist Paul Krugman: Warns Against 'Fiscal Dominance' of Monetary Policy

Economist Paul Krugman is raising the alarm against President Donald Trump's attempts to destroy the Federal Reserve's independence, in a push for personal control over monetary policy.

Salesforce, Rocket Lab, American Eagle, Gitlab And Figma: Why These 5 Stocks Are On Investors' Radars Today

CRM, RKLB, AEO, GTLB, FIG were among the stocks seen trending among investors on Wednesday, Sep. 3, 2025.

Is This Elon's Worst Nightmare?

Is This Elon's Worst Nightmare? - Ad

Elon's empire looks doomed - crashing sales, lost tax credits, and media backlash. But behind the scenes, Tesla is about to unleash a breakthrough Forbes calls a "multi-trillion-dollar opportunity." It's not the end - it's the start of a 25,000% AI comeback.

Elizabeth Warren Suppprts Bipartisan Bill To Ban Individual Stock Trading By Lawmakers: 'It's About Time'

Sen. Elizabeth Warren (D-Mass.) is lauding a new bipartisan effort to ban members of Congress from trading individual stocks, calling the move long overdue.

Trump to host top tech CEOs — except Musk — at White House dinner Thursday

WASHINGTON (AP) — will host a high-powered list of tech CEOs for a dinner at the White House on Thursday night.

This Gold Miner Has the Map, the Metal, and the Momentum

This Gold Miner Has the Map, the Metal, and the Momentum - Ad

JPMorgan is forecasting that gold will push past $4,000, and this Nevada operation is positioned to benefit. Historical estimates show its property could hold around 1.8 million ounces of measured and indicated gold, backed by infrastructure and billionaire investors. The company's already producing, refining gold onsite and looking to expand. That's not a dream-stage story-that's a head start.

Gold's Best Year Since 1978—What's Driving The Relentless Rally?

Gold has surged 37% in 2025, topping $3,500 an ounce. Discover what's driving the rally, from Fed politics to central bank buying.

NTSB describes the turbulence that threw passengers around the cabin on a Delta flight

Passengers who weren't buckled aboard a Delta Air Lines flight to Europe would have been violently thrown into the ceiling and back down to the floor in July in a thunderstorm over Wyoming, according to a new report on the incident.

"Tech Prophet" Who Predicted the iPhone Now Predicts...

"Tech Prophet" Who Predicted the iPhone Now Predicts... - Ad

George Gilder - who predicted the iPhone 17 years early and gave Reagan the first microchip - is making his boldest call yet. He says an American nanotech "super-convergence" could mint more millionaires than any event in recent memory. He's found 3 stocks set to benefit before Oct 16's bombshell.

Social Security whistleblower who claims DOGE mishandled Americans' sensitive data resigns from post

WASHINGTON (AP) — A Social Security official who has filed a whistleblower complaint alleging the Department of Government Efficiency officials Americans' sensitive information says he's resigning his post because of actions taken against him since making his complaint.

Qualcomm And Valeo Broaden Collaboration To Speed Hands Off Driving Features

Qualcomm and Valeo partner to launch ADAS and AD solutions, integrating Snapdragon Ride SoC and software stack with Valeo's sensors and systems.

[Revealed] Trump's Next AI Executive Orders?

[Revealed] Trump's Next AI Executive Orders? - Ad

A White House insider with direct ties to Trump's inner circle just revealed what he calls "Manhattan II" - a potential $2.2 trillion AI initiative set to launch as soon as Oct 15. He says this could mirror past U.S. projects that minted fortunes - with small firms soaring 5,000% to 10,000% over two decades. And now he's giving away his #1 stock pick for free before the deadline.

CBS News' new ombudsman has background and duties that differ from the job's traditional definition

NEW YORK (AP) — CBS News has a new ombudsman assigned to look into public complaints, but the job being assumed by Kenneth Weinstein bears little resemblance to how this watchdog role has traditionally operated in journalism.

Long-wrought WTO agreement aimed at reducing overfishing takes effect

GENEVA (AP) — A World Trade Organization agreement aimed at reducing took effect Monday, requiring countries to reduce subsidies doled out to fishing fleets and aiming to ensure sustainability of wildlife in the world's seas and oceans.

Could You Use Some Instant Cash Upfront?

Could You Use Some Instant Cash Upfront? - Ad

Millionaire trader Jeff Clark's #1 income strategy gives you the chance to collect instant cash payouts, as much as $100 to $1,000 upfront! The great part is you can collect these upfront cash payouts without owning a single stock.... Jeff's put all the details in a special briefing titled Infinite Income Manifesto.

Big Tech's energy-hungry data centers could be bumped off grids during power emergencies

HARRISBURG, Pa. (AP) — With the explosive growth of Big Tech's data centers threatening to overload U.S. electricity grids, policymakers are taking a hard look at a tough-love solution: bumping the energy-hungry data centers off grids during power emergencies.

Edmunds SUV comparison: New Honda Passport vs Toyota 4Runner

Toyota has released a redesigned 4Runner for 2025. This is a big deal for fans of this SUV, as the previous generation was on sale for a lengthy 14 years. The new has distinctive new styling, the latest technology features, and an available hybrid powertrain that promises increased performance without sacrificing mpg. And just like previous models, it has a rugged design that’s well suited for off-road adventures.

Gold Alert: Extraordinary Upside in One Stock (Not a Miner)

Gold Alert: Extraordinary Upside in One Stock (Not a Miner) - Ad

Gold has hit all-time highs, breaking $3,600 an ounce - but history shows it could be on the verge of its biggest bull run in over half a century... triggered by a likely major event, eerily similar to what happened in the 1970s. (It's NOT inflation or anything you're likely expecting.) Now, a top analyst says you can capture ALL of the upside without touching a risky miner or a boring exchange-traded fund. He sees extraordinary potential gains long term with very little risk.

China's export growth slows in August amid trade tensions with US

BEIJING (AP) — grew last month but at a slower pace than in recent months, the country's customs agency said Monday.

Carney Cuts The Red Tape, Unveils Over $43 Billion In Flagship Projects

PM Mark Carney announces first projects to be reviewed by Canada's new Major Projects Office, aiming to cut red tape and attract investments.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50.

Analysts Project This Stock Could Jump to $14 a Share. You Can Still Invest for $3.50. - Ad

Skye Bioscience Advances Position In Competitive Obesity Market With Promising Data

Skye Bioscience's latest data show nimacimab boosted tirzepatide's weight loss effects and reduced obesity treatment rebound risk.

Bill Gates Backs Utah Geothermal Plant As Fervo Energy Targets 500 MW Capacity At Cape Station

Bill Gates and Breakthrough Energy support Fervo Energy's Cape Station project, aiming to generate 500 MW of geothermal power.

Gold Is Being Reintroduced Into the Monetary System

Gold Is Being Reintroduced Into the Monetary System - Ad

Fed Governor Lisa Cook claimed 2nd residence as 'vacation home,' undercutting Trump fraud claims

WASHINGTON (AP) — Federal Reserve Governor Lisa Cook referred to a condominium she purchased in June 2021 as a “vacation home" in a loan estimate, a characterization that could undermine claims by the Trump administration that she committed mortgage fraud.

Ethereum Co-Founder Vitalik Buterin Responds to Security Concerns Over OpenAI's ChatGPT

Ethereum co-founder Vitalik Buterin has voiced his concerns over potential security risks associated with OpenAI's ChatGPT, which could lead to the leakage of personal user data.

Inside: What's Going on Behind the Scenes in DC?

Inside: What's Going on Behind the Scenes in DC? - Ad

Norway votes in a closely fought election with the future of a wealth tax in focus

OSLO, Norway (AP) — Norwegians headed to the polls Monday in the main day of voting for a new parliament, after a campaign in which the future of that dates to the late 19th century has been a central issue.

Trending Now