Nasdaq Plans $50M Investment in Gemini Ahead of IPO

Nasdaq is making a significant move into the cryptocurrency sector by investing $50 million in Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, as part of a strategic partnership coinciding with Gemini's planned IPO to raise around $317 million. This partnership will allow Nasdaq clients to access Gemini’s crypto custody and staking services, while Gemini’s institutional clients gain access to Nasdaq’s Calypso platform for managing and tracking trading collateral, enhancing service offerings for both parties. Gemini, which has grown substantially since its 2014 founding, reported $21 billion in assets under management but also faced a $282.5 million net loss in the first half of 2025, highlighting challenges amid growth. The IPO and Nasdaq’s investment reflect traditional finance's growing embrace of digital assets, with Nasdaq also advancing tokenized securities trading through regulatory filings. Supported by major underwriters like Goldman Sachs and Citigroup, Gemini’s public listing under the ticker "GEMI" aims to capitalize on robust investor interest in new IPOs. This strategic move underscores the increasing integration of crypto into established financial markets and Nasdaq's positioning at the forefront of blockchain innovation.