Gemini, a cryptocurrency company led by the Winklevoss brothers, had a strong debut on Nasdaq, briefly topping $40 and temporarily valuing the company at about $4.75 billion. Gemini's IPO, which sold more than 15 million Class A shares, priced each at $28 and raised $425 million, above expectations of a range of $24 to $26.
Gemini was founded in 2014, and its business includes crypto trading platforms and custodial services. According to Bloomberg, the Winklevoss brothers are expected to control about 94.5% of the voting rights after the listing. Gemini recorded a net loss of $282.50 million in the first half of the year. Meanwhile, another crypto company, Figure, closed its IPO day this week up about 24% from its IPO price, indicating that the popularity of crypto companies going public in the United States continues.
Gemini's IPO shares soared above $40 on the first day, valuing it at one point at $4.75 billion
2025-09-12 22:03:16
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