Gemini Stock Set to Start Trading Amid Signs of Strong Demand for its IPO

Core Viewpoint - Gemini, the crypto exchange founded by the Winklevoss twins, is set to begin trading with an IPO price of $28 per share, indicating strong market interest and a potential for significant first-day gains [2][3]. Group 1: IPO Details - The IPO price of $28 per share is above the previously expected range of $24 to $26, suggesting strong demand [2]. - Gemini sold 15.1 million Class A shares, raising a total of $425 million [2]. - The company is expected to have a market value of approximately $3.3 billion following its public debut [3]. Group 2: Market Demand and Investment - There was a $50 million private placement investment from Nasdaq, indicating confidence in Gemini's market potential [2]. - Demand for Gemini's shares was reported to be more than 20 times higher than the available shares, reflecting strong investor interest [2]. Group 3: Company Overview - Gemini operates one of the well-known crypto exchanges in the U.S. and offers a credit card with crypto rewards and a stablecoin [4]. - Although Gemini's trading volumes are significantly lower than those of Coinbase, the company sees growth potential in tokenization and card payments [4].