Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is set to go public on Nasdaq this week, aiming to raise up to $317 million through an initial public offering . As part of this move, Nasdaq has agreed to invest $50 million in a private placement and will form a strategic partnership with Gemini. This alliance will provide Nasdaq’s clients with access to Gemini's crypto custody and staking services, while Gemini’s institutional users will benefit from Nasdaq's Calypso platform for managing trading collateral.
Scheduled to trade under the ticker “GEMI,” Gemini's IPO comes amid a resurgence in the U.S. equity capital markets. Notable recent listings, such as Figma and Firefly Aerospace, have witnessed strong investor demand, encouraging more private firms to go public. Gemini's debut would make it the third publicly traded crypto exchange, following Bullish and Coinbase.
Gemini, a major player in U.S. crypto trading with $21 billion in assets and $285 billion in historical trading volume, serves both retail and institutional investors and primarily earns from transaction fees. Despite its prominence, it reported a net loss of $282.5 million in the first half of 2025.
The partnership with Nasdaq is expected to enhance Gemini's offerings and provide a more robust infrastructure for its users. By integrating Nasdaq's technology and services, Gemini aims to strengthen its position in the competitive cryptocurrency exchange market.
As the cryptocurrency market continues to evolve, strategic partnerships like the one between Gemini and Nasdaq are becoming increasingly important. They not only provide financial backing but also offer technological advancements that can lead to improved services and user experiences. Investors and industry participants will be closely watching how this collaboration unfolds and its impact on the broader crypto ecosystem.
