Nasdaq Invests $50M in Gemini Ahead of $2.22B Crypto IPO

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, is set to debut on the Nasdaq under the ticker "GEMI," becoming the third publicly traded U.S. crypto exchange after Coinbase and Bullish. Nasdaq has made a strategic $50 million investment in Gemini via a private placement concurrent with the IPO, signaling strong confidence in Gemini’s growth and the broader integration of crypto services with traditional financial markets. The partnership includes operational synergies, with Gemini’s institutional clients gaining access to Nasdaq’s Calypso platform for managing trading collateral, while Nasdaq’s clients will be able to use Gemini’s custody and staking services. The IPO aims to raise approximately $317 million by offering 16.7 million shares priced between $17 and $19, valuing Gemini at about $2.22 billion. This move highlights the increasing mainstream acceptance of crypto exchanges and tokenized assets, as Nasdaq continues to expand its footprint into digital asset infrastructure. Market observers view the timing as favorable due to recent successes in crypto exchange IPOs and a supportive regulatory environment under the current administration.