Bitcoin Exchange Gemini Makes A Splash On Nasdaq Debut, Jumping Nearly 50%

Bitcoin (BTC) and cryptocurrency exchange Gemini (GEMI), founded by twins Tyler and Cameron Winklevoss, experienced a major debut on the Nasdaq, soaring nearly 40% following the company’s initial public offering (IPO), which raised $425 ￰0￱ Success On Nasdaq Debut Based in New York, Gemini priced its IPO late Thursday above the anticipated range of $24 to $26, reflecting strong investor ￰1￱ valuation positioned the company at approximately $3.3 billion before trading ￰2￱ Reading: Ethereum (ETH) On The Brink Of A Major Supply Crisis: What It Means For Investors Despite the successful debut, Gemini has faced financial ￰3￱ to its registration with the Securities and Exchange Commission (SEC), the company reported a net loss of $159 million in 2024 and a loss of $283 million in the first half of this ￰4￱ Winklevoss brothers, who are recognized as early Bitcoin investors and the first Bitcoin billionaires, have consistently advocated for Bitcoin as a superior store of value compared to ￰5￱ a recent interview on CNBC’s Squawk Box, they expressed their belief that the price of the market’s leading cryptocurrency could reach $1 million within the next decade, saying it could easily increase tenfold from its current ￰6￱ Stock Peaks At $40 The Winklevoss twins’ exchange debut on the Nasdaq follows those of Circle (CRCL), the issuer of the second-largest stablecoin by trading volume (USDC), and Bullish (BLSH), the Peter Thiel–backed exchange, which were among the first crypto firms to go public this ￰7￱ Reading: XRP Price Gets Tighter: Here’s The Level Keeping It From Price Discovery According to Arkham data issued after the initial public offering debut today, the brothers’ long-dated commitment to Bitcoin and broader crypto market has led them to amass over $2 billion in crypto assets, mostly consisting of ￰8￱ newly traded GEMI stock opened at $37.01 on Friday, significantly exceeding the IPO pricing of $28, and at one point reached a high of $45.74 during trading.

Since, the stock has retraced toward its current valuation of $34. Featured image from DALL-E, chart from ￰9￱