Gemini, the cryptocurrency exchange backed by the billionaire Winklevoss twins, priced its initial public offering at $28 per share, valuing the company at more than $3 billion. The company successfully sold 15.2 million shares, raising $425 million in its Nasdaq debut.
This pricing followed an earlier boost in the IPO price range to $24-$26 per share, up from an initial $17-$19, reflecting strong investor demand. The successful listing of Gemini further solidifies Nasdaq's position as a leading exchange for companies in the digital asset sector.
The debut of Gemini on Nasdaq, especially after Nasdaq's $50 million strategic investment in the crypto exchange, underscores the growing integration of cryptocurrency firms into traditional financial markets. This high-profile listing contributes to Nasdaq's listings revenue and enhances its reputation as a hub for innovative technology companies.
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