币圈新股本周压轴大戏：Gemini首秀一度飙涨超60%，IPO太火被爆“限售”

Core Viewpoint - The IPO of Gemini Space Station Inc. was highly successful, reflecting strong investor demand for cryptocurrency-related companies, with a significant increase in share price on its debut [1][3][7]. IPO Performance - Gemini's IPO price was set at $28 per share, which was a substantial increase of at least 37% from the previously adjusted guidance range, leading to a closing price of $32, marking a 14% rise on the first day [1][5]. - The stock opened at $37.01, a 32.2% increase, and peaked at $45.89, a 63.9% rise, before closing at $32 [3]. - The IPO was oversubscribed by more than 20 times, with a final fundraising amount of $425 million, despite a lower number of shares issued than initially planned [7][8]. Financial Performance - Gemini reported a total revenue of $142.2 million in the previous year, a 45% increase, but faced a decline in revenue in the first half of the current year, with $68.6 million, down nearly 8% from $74.3 million in the same period last year [12]. - The company experienced a net loss of $282.5 million in the first half of this year, surpassing the total net loss of $159 million for the previous year [13]. - Despite financial challenges, Gemini's platform showed positive trends with a 50% increase in trading volume to $24.8 billion and a 30% growth in platform assets to $182 billion [14]. Market Context - The successful IPO of Gemini aligns with a broader trend of enthusiasm for cryptocurrency companies, with other firms like Circle and Bullish also experiencing significant stock price increases upon their IPOs [17]. - The regulatory environment under the Trump administration has created a favorable atmosphere for cryptocurrency IPOs, with recent shifts in the SEC's stance indicating increased confidence in the industry [18]. - Nasdaq's strategic investment of $50 million in Gemini highlights the growing interest of traditional financial institutions in cryptocurrency infrastructure [19]. Founders' Perspective - Winklevoss brothers, founders of Gemini, expressed optimism about Bitcoin's future, suggesting it could reach $1 million in ten years, viewing it as "Gold 2.0" with significant growth potential [15][16].