Gemini, the Winklevoss' crypto exchange, pops more than 40% in Nasdaq debut
Original story by
CNBC•Sep 12•Finance, Cryptocurrency, Stock Market
📰 Article Summary
Shares of Gemini Space Station surged over 40% after the company raised $425 million in its IPO. Opening at $37.01 on the Nasdaq, the stock exceeded its initial pricing of $28, reflecting strong investor demand and valuing the company at approximately $3.3 billion. Founded by the Winklevoss twins in 2014, Gemini has carved a significant niche in the cryptocurrency space, despite posting considerable losses recently. The twins remain bullish on Bitcoin, predicting it could reach $1 million within the next decade.
📌 Key Facts
- IPO Success: Gemini Space Station's IPO raised $425 million, causing shares to open at $37.01, exceeding expectations and showcasing robust market interest.
- Market Valuation: With its IPO pricing above the anticipated range, Gemini's market valuation is around $3.3 billion, highlighting its significant asset management capabilities in cryptocurrencies.
- Winklevoss Brothers: Co-founded by the Winklevoss twins, Gemini has grown substantially since 2014, reflecting their pioneering role in cryptocurrency investments and exchanges.
- Financial Performance: Despite a reported net loss of $159 million in 2024 and $283 million in the first half of 2025, Gemini's sustained growth in platform assets underscores its market resilience.
- Future Bitcoin Predictions: The Winklevoss brothers have expressed a confident forecast for Bitcoin's future, predicting it could reach a value of $1 million over the next decade, reinforcing their belief in its long-term potential as a store of value.
📂 Article Classification
Topic Tags: Gemini IPO
📍 Location
New York, New York United States
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