Gemini Crypto Exchange IPO Pops 14% as Winklevoss Twins Predict $1M Bitcoin

Gemini Space Station , the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, surged in its Nasdaq debut Friday after raising $425 million in an initial public ￰0￱ company priced its IPO late Thursday at $28 a share, valuing Gemini at about $3.3 billion before trading ￰1￱ price was above the revised $24 to $26 range it set earlier in the week and well above the initial $17 to $19 ￰2￱ offering covered 15.2 million ￰3￱ Friday, the stock opened at $37.01, a 32% premium to the offer ￰4￱ climbed as high as $45.89 during intraday trading before settling at $32, still 14% above the IPO level by the close. Gemini, headquartered in New York, operates a suite of crypto services including a spot exchange, custody solutions for institutions, a U.

S. dollar-backed stablecoin, a crypto rewards credit card, and staking ￰5￱ of the end of July, the company held more than $21 billion of assets on its ￰6￱ show Gemini lost $159 million in 2024 and $283 million in the first half of ￰7￱ Winklevoss brothers, who became the first bitcoin billionaires after early investments in the cryptocurrency, appeared on CNBC’s "Squawk Box" on the morning of the ￰8￱ Winklevoss described bitcoin as “gold 2.0” and said adoption remains in the “first inning.” He and his brother projected that bitcoin could reach $1 million within the next decade. Gemini’s listing follows those of Coinbase (COIN) in April 2021 and Bullish (BLSH), which owns CoinDesk, last month .