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Gemini Heads To Nasdaq With $2.1B Bet On Crypto’s Next Chapter
Nasdaq's $50 million investment in Gemini precedes its IPO, aiming to raise $317 million and expand crypto services amid growing traditional finance integration.
- Nasdaq is buying $50 million of Gemini shares via a private placement, becoming a strategic investor ahead of Gemini's IPO later this week and enabling client access to Gemini custody and staking services while Gemini clients use Nasdaq's Calypso platform.
- Gemini plans to sell 16.67 million shares at $17–$19 to raise up to $317 million, aiming for a Nasdaq debut on Friday under the ticker GEMI to support operations, debt repayment, and service expansion.
- Gemini reports a $282.5 million net loss and owes $116.5 million to Galaxy Digital, $200 million in convertible notes, over $400 million in WCF loans, and a $75 million Ripple credit facility.
- The planned $317 million raise and Nasdaq's strategic stake raise both confidence and questions about Gemini's independence, while Gemini would join Coinbase and Bullish as a public U.S. crypto exchange.
- Despite gains, Gemini's record includes regulatory penalties including $1.1 billion restitution, a $37 million NYDFS fine, and a February 2025 SEC closure; bitcoin and ether comprise 88% of assets, with roughly 70% of 2024 revenue from transaction fees.
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Nasdaq invests $50M in Winklevoss-founded crypto exchange Gemini ahead of IPO - Tech Startups
Gemini is stepping into its public debut with a powerful ally by its side. The crypto exchange founded by Cameron and Tyler Winklevoss has locked in a $50 million investment from Nasdaq just days before its IPO. The funding, confirmed […] The post Nasdaq invests $50M in Winklevoss-founded crypto exchange Gemini ahead of IPO first appeared on Tech Startups.
Amid the cryptocurrency craze, the Gemini exchange owned by the Winklevoss brothers has announced an IPO plan with the goal of raising hundreds of millions of dollars, expecting to reach a valuation of 3 billion USD and become a new milestone for the global crypto industry.
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Total News Sources23
Leaning Left1Leaning Right1Center3Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 20%
C 60%
R 20%
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