Gemini actions (Gemi) Open at $ 41 per share on the Nasdaq Global Select Market on Friday, up 45% compared to the price of the IPO last night.
The Crypto Exchange, managed by Tyler and Cameron Winklevoss, estimated its IPO at $ 28 per share, evaluating the company at around $ 3.3 billion. He had sold 15.2 million shares, raising $ 425 million.
Gemini posted a net loss of $ 283 million in the first half. This follows a loss of $ 159 million for all 2024, according to the company’s latest finances.
Despite the deepening of red ink, Gemini estimated his IPO above the level initially hoped for and obtained a strategic investment of $ 50 million from the Nasdaq earlier this week. The scholarship operator said that the agreement was intended to extend access to Gemini’s cryptography care for institutional customers. He also positions Gemini as a distribution partner for Nasdaq’s commercial management software, Calypso.
The IPO of Gemini follows that of the other crypto-native platforms, including the Circle of Stablecoin transmitter (CRCL)Bullish (BLSH)Etoro (Etor) and figure technologies (Figr)This has also become a public this year in what seems to be a booming capital market for cryptographic companies in the midst of American regulatory action adapted to waves. Bullish Global is the parent company of Coindesk.
