{"id":83734,"date":"2025-09-12T12:58:38","date_gmt":"2025-09-12T09:58:38","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83734"},"modified":"2025-09-12T13:00:14","modified_gmt":"2025-09-12T10:00:14","slug":"gemini-crypto-exchange-raises-425-million-in-ipo","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/gemini-crypto-exchange-raises-425-million-in-ipo\/","title":{"rendered":"Gemini Crypto Exchange Raises $425 Million in IPO"},"content":{"rendered":"<p>On September 12, the Winklevoss brothers&#8217; cryptocurrency exchange, Gemini, conducted an IPO, raising $425 million, according to a <a href=\"https:\/\/www.prnewswire.com\/apac\/news-releases\/gemini-announces-pricing-of-initial-public-offering-302554646.html\">press release<\/a>.<\/p>\n<p>The platform sold 15.18 million Class A shares at $28 each, exceeding the planned range of $24-26. The securities were listed under the ticker GEMI on Nasdaq, with support from Goldman Sachs, Citigroup, Morgan Stanley, and Cantor.<\/p>\n<p>Underwriters received a 30-day option to purchase an additional 750,000 shares to cover over-allotments. Nasdaq acquired $50 million worth of securities through a private placement. Up to 10% of the offering was reserved for insiders and long-term Gemini users. Retail investors received up to 30% of the shares through Robinhood, SoFi, and Webull.<\/p>\n<p>According to <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-09-11\/winklevosses-crypto-exchange-gemini-raises-425-million-in-ipo\">Bloomberg<\/a>, the Winklevoss brothers will retain 94.5% of the voting rights post-IPO. The crypto exchange <a href=\"https:\/\/forklog.com\/en\/news\/gemini-cryptocurrency-exchange-files-for-ipo\">filed<\/a> for the initial public offering in March.<\/p>\n<p>As reported by <a href=\"https:\/\/www.reuters.com\/business\/ipo-winklevoss-founded-crypto-exchange-gemini-over-20-times-oversubscribed-2025-09-11\/\">Reuters<\/a>, the event sparked significant interest among investors, who submitted 20 times more applications than available shares. Consequently, Gemini and its investment bankers closed the acceptance of applications early.<\/p>\n<p>The platform became the third American crypto exchange, following Coinbase and Bullish, to go public. In June, Circle, the company behind USDC, also <a href=\"https:\/\/forklog.com\/en\/news\/media-usdc-stablecoin-issuer-valued-at-6-9bn-after-ipo\">conducted<\/a> an IPO.<\/p>\n<p>Back in March, media <a href=\"https:\/\/forklog.com\/en\/news\/kraken-considers-ipo-amid-regulatory-shifts\">reported<\/a> on Kraken&#8217;s plans to conduct an initial public offering.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On September 12, the Winklevoss brothers&#8217; cryptocurrency exchange, Gemini, conducted an IPO, raising $425 million.<\/p>\n","protected":false},"author":1,"featured_media":83735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"The event sparked significant interest among investors.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[719,767,768],"class_list":["post-83734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-gemini","tag-ipo","tag-nasdaq"],"aioseo_notices":[],"amp_enabled":true,"views":"266","promo_type":"1","layout_type":"1","short_excerpt":"The event sparked significant interest among investors.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83734"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83734\/revisions"}],"predecessor-version":[{"id":83736,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83734\/revisions\/83736"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83735"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}