On September 9, according to Reuters, two people familiar with the matter revealed that cryptocurrency trading platform Gemini Space Station has acquired Nasdaq as a strategic investor as the company plans to list in New York this week. Gemini may raise up to $317 million through an initial public offering (IPO) and has arranged for Nasdaq to buy a $50 million stake in a private placement at the time of the IPO, the people said. The people asked to remain anonymous because the agreement is not yet public. The investment is part of a partnership that will enable Nasdaq customers to use Gemini's custody and pledge services, the people said. Gemini's institutional clients will also be able to use Nasdaq's Calypso platform to manage and track trading collateral. Gemini is expected to start trading on Nasdaq on Friday under the symbol "GEMI".
People familiar with the matter warned that the company's plans were subject to market conditions and could change. Gemini's IPO comes at a time when US equity capital markets are recovering and demand for new listings is strong. The impressive first-day performance also encouraged more private companies to test investor interest.
Nasdaq to buy $50 million stake in Gemini in private placement
2025-09-09 09:18:49
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