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Crypto Exchange Gemini Moves for Nasdaq Listing With $317 Million IPO Raise
Yahoo Finance· 2025-09-09 14:10
Group 1 - Gemini, a popular crypto exchange led by Tyler and Cameron Winklevoss, is planning a public listing targeting up to $317 million in its initial public offering (IPO) [1][3] - Nasdaq has committed to purchasing $50 million worth of shares through a private placement as part of a strategic investment in Gemini [1][2] - The IPO is set to begin trading on Nasdaq under the ticker symbol GEMI on September 12, subject to market conditions [2][3] Group 2 - The IPO comes at a time when U.S. equity capital markets are recovering, with increased demand for new listings, particularly from crypto firms [3] - Recent IPOs of crypto firms, such as Circle and Bullish, have seen significant market rallies, indicating a favorable environment for Gemini's listing [4] - The potential for Fed rate cuts could serve as an additional catalyst for Gemini's initial trading performance [4] Group 3 - Nasdaq is expanding its involvement in the crypto space, including a recent push towards tokenized securities by filing with the U.S. Securities and Exchange Commission (SEC) [5][6] - Nasdaq emphasizes that tokenized products should be offered through established, regulated platforms rather than isolated trading venues [6]