TLDR
- Gemini raised $425M in its IPO, with stock surging 21%, valuing the company at $3.3 billion.
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Gemini’s IPO follows a wave of crypto companies going public in 2025, tapping into the pro-crypto climate.
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Despite losses, Gemini’s IPO signals a major turn in its fortunes, helped by a $50M strategic investment.
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Winklevoss brothers, founders of Gemini, see their wealth surge after the IPO with 75 million shares worth $2.78 billion.
Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, saw its shares soar 20% after its Nasdaq debut on September 12, 2025. The Nasdaq-listed company raised $425 million by selling 15.2 million shares at $28 each, valuing the company at around $3.3 billion.
The stock opened at $37.01, above the IPO price, and briefly touched $45.89. By 2:50 p.m. ET, it was still up 21%. This successful debut positions Gemini as one of the most prominent crypto exchanges to go public, with a valuation comparable to some traditional financial institutions.
Surge in Institutional Adoption and Investor Confidence
The rise in Gemini’s stock can be attributed to growing investor confidence in the crypto sector, particularly as regulatory uncertainty around crypto firms eases under the Biden administration.
Several crypto companies such as Circle, eToro, and Bullish have also gone public this year, signaling a broader resurgence of interest in digital assets.
Along with the Nasdaq IPO, Gemini secured a $50 million strategic investment from the exchange operator. This partnership aims to expand Gemini’s crypto custody services for institutional clients, providing greater reach and establishing credibility in the institutional space.
Winklevoss Brothers See Wealth Surge
Despite Gemini posting a net loss of $283 million in the first half of 2025, the company’s Nasdaq debut marks a major turnaround. As majority shareholders, Tyler and Cameron Winklevoss saw their combined wealth soar after Gemini raised $425 million from the IPO.
The Winklevoss twins own about 75 million shares, valued at $2.78 billion, following the successful listing.
Their public stance on Bitcoin and crypto regulation has long influenced their company’s mission to provide trustworthy, regulated financial services to the crypto community. Gemini’s rise has positioned the Winklevoss brothers as leading figures in the growing crypto economy.
Crypto Market IPO Boom and the Future of Gemini
With the Gemini IPO coming at a time when the U.S. market is seeing a wave of crypto firm IPOs, many investors are betting on continued growth in digital assets.
The crypto market capitalization is on the rise, and firms like Gemini are tapping into a mature investment landscape.
This IPO signals that Gemini could expand its product offering to cater to institutional clients while also addressing retail users who seek stability in a decentralized world. Despite ongoing market volatility, Gemini’s stock price surge marks a turning point, giving the company a brighter future in the financial sector.
