Key Takeaways:
- Gemini raised its IPO target to $433M, aiming for a $3B valuation amid strong investor interest.
- Nasdaq will invest $50M in Gemini through a private share purchase.
- Despite $282M in losses, Gemini saw a 50% surge in trading volume to $24.8B in H1 2025.
Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has expanded its initial public offering (IPO) to $433 million, valuing the company at more than $3 billion ahead of its Friday debut.
In an updated U.S. SEC filing, Gemini raised its share pricing range to $24–$26, up from $17–$19, while keeping its planned 16.67 million shares unchanged.
JUST IN: 📈Gemini boosts IPO price range to $24-$26 per share, targeting a $3.08 billion valuation, as investor interest surges in the crypto space ahead of its Nasdaq debut. pic.twitter.com/GltVfjm2XV
— Bitcoin.com News (@BTCTN) September 9, 2025
The revision reflects strong investor appetite for crypto firms, with Nasdaq itself committing $50 million through a private purchase of 2.11 million shares.
Despite widening losses, Gemini is riding the momentum of rising interest in the sector.
For the first half of 2025, it reported $68.61 million in revenue, down year-over-year, but its net loss ballooned to $282.47 million from $41.37 million.
Still, trading volume surged nearly 50%, hitting $24.8 billion.
Gemini’s upsized IPO comes amid a wave of crypto-related listings.
Stablecoin issuer Circle soared after its debut, Bullish jumped 218% on its first day, and Coinbase joined the S&P 500.
Meanwhile, Kraken is eyeing a $500 million raise at a $15 billion valuation, underscoring broader enthusiasm for crypto companies.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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