Gemini Hits $4.4 Billion Valuation in Nasdaq Debut

Gemini Space Station Inc., a cryptocurrency exchange founded by the Winklevoss twins, made a strong Nasdaq debut with shares soaring over 32%, boosting the company's valuation to approximately $4.4 billion. The initial public offering raised $425 million, with the stock opening well above its IPO price due to high investor demand, reflecting renewed enthusiasm for digital assets amid favorable regulatory conditions under the pro-crypto Trump administration. Despite reporting significant net losses in 2024, Gemini's public listing and growing institutional adoption highlight continued confidence in the crypto market. The Winklevoss twins also made a bold prediction that Bitcoin could reach $1 million within the next decade, emphasizing its potential as a store of value comparable to gold rather than a currency for daily transactions. They argue Bitcoin's value lies in its long-term wealth preservation role, and despite regulatory and market volatility challenges, they remain optimistic about its growth trajectory. Gemini now joins other publicly traded crypto exchanges like Coinbase and Robinhood in serving U.S. investors, signaling a maturing crypto industry.