Gemini said it plans to raise up to $317 million in an initial public offering that would value the crypto exchange at roughly $2.3 billion. The company said it will offer about 16.6 million Class A shares, targeting a price range of $17–$19 per share, and expects to trade under the ticker GEMI. Lead underwriters on the deal include Goldman Sachs, Citigroup, Morgan Stanley and Cantor Fitzgerald.
The filing comes as recent crypto-focused listings have drawn strong investor interest. Stablecoin issuer Circle vaulted above its offering price on debut, and exchange Bullish more than tripled its initial price on day one—trends Gemini appears poised to capitalize on amid renewed Wall Street enthusiasm for crypto firms.
Beyond market momentum, Gemini’s public offering is notable for the exchange’s political visibility. Co-founders Cameron and Tyler Winklevoss have cultivated close ties with the current administration; the SEC moved to pause a long-running lawsuit against Gemini after President Trump returned to office. The brothers have also launched a $21 million pro-crypto PAC and appeared at White House crypto events this year, including the signing of the stablecoin-focused GENIUS Act.
Why this matters: a successful Gemini IPO would further institutionalize U.S. crypto infrastructure and could attract more traditional investors to exchanges. However, prospective investors should weigh market volatility, regulatory uncertainty and the risks that political ties and legal issues can introduce to public listings—past IPO pop performance is not a guarantee of future returns.
Source: Decrypt. Read the original coverage for full details.