17:15 - 12.09.2025

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September 12, Fineko/abc.az. The cryptocurrency exchange Gemini, led by twin brothers Cameron and Tyler Winklevoss, has successfully completed its initial public offering (IPO), raising $425 million.

According to ABC.AZ, the company’s shares began trading on the Nasdaq exchange on Friday, September 12, under the ticker GEMI, The Block reports.

The company sold 15.18 million Class A shares at $28 each. This was above the previously announced range of $24–26, indicating strong investor demand.

The underwriters of the offering included leading Wall Street banks such as Goldman Sachs, Citigroup, and Morgan Stanley.

According to Bloomberg, following the IPO, the Winklevoss brothers will retain control of 94.5% of the shares. It was also reported that Nasdaq Inc. itself agreed to purchase $50 million worth of Gemini shares in a private placement.