Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is gearing up to go public in New York this week with Nasdaq as a strategic investor, as reported by Reuters on Sept. 9. The share sale is expected to raise up to $317 million, with Nasdaq planning to purchase about $50 million of stock in a private placement during the offering. Gemini will trade under the ticker symbol “GEMI.”
The collaboration with Nasdaq goes beyond financial investment, as it includes a partnership that will provide Nasdaq’s institutional clients access to Gemini’s custody and staking products. In return, Gemini customers will have the opportunity to utilize Nasdaq’s Calypso platform for tracking and managing collateral. While neither Nasdaq nor Gemini have commented on the specifics of the arrangement, Reuters mentioned that the exchange’s plans are subject to change based on market conditions.
Gemini’s decision to go public comes at a time when U.S. equity markets are showing a renewed interest in new listings, particularly in the tech and crypto sectors. If successful, Gemini will become the third publicly traded exchange following in the footsteps of Coinbase and Bullish. With approximately $21 billion in client assets and over $285 billion in trading volume processed, Gemini offers a range of services including retail and institutional trading, an over-the-counter desk, a credit card, and trading in major cryptocurrencies like Bitcoin, Ethereum, and stablecoins.
Financially, Gemini reported a net loss of $282.5 million on $68.6 million in revenue for the first half of 2025, compared to a $41.4 million loss in the previous year. The Winklevoss twins, known for their legal battle with Facebook and their early investments in Bitcoin, have become synonymous with the rise of digital assets on Wall Street. Their decision to take Gemini public underscores the deep integration of digital assets within the traditional financial landscape.
In conclusion, Gemini’s upcoming public offering with Nasdaq as a strategic investor marks a significant milestone in the evolution of the cryptocurrency industry. The partnership between these two entities highlights the increasing convergence between traditional financial markets and the world of digital assets. As Gemini prepares to make its debut on the public market, all eyes will be on how this move will impact the broader crypto ecosystem.