Nasdaq to invest $50M ahead of hot IPO this week

Group 1 - Gemini, the crypto exchange founded by the Winklevoss twins, is planning for a public listing and has secured Nasdaq as a strategic investor with a $50 million investment in a private placement [1][2] - Nasdaq's clients will gain access to Gemini's custody and staking services, while Gemini's institutional clients will utilize Nasdaq's Calypso platform for managing and tracking trading collateral [2] - The company aims to raise approximately $317 million through the sale of 16.67 million shares priced between $17 and $19, leading to a valuation of up to $2.22 billion [4] Group 2 - The IPO is seen as timely due to favorable market conditions following the successful IPO of the Bullish crypto exchange and regulatory clarity from a pro-crypto administration [4] - If Gemini goes public, it will be the third crypto exchange to do so, following Coinbase and Bullish [5] - The year 2025 has already seen significant public debuts in the crypto space, and Gemini is positioned to capitalize on the favorable conditions for the industry [6]