Gemini Aims for $317 Million Nasdaq IPO

​Cryptocurrency exchange Gemini Space Station has filed for an initial public offering on the Nasdaq Global Select Market. The company is seeking to raise up to $317 million by selling 16.67 million shares priced between $17 and $19 each.

If successful, Gemini would become the third crypto exchange to list publicly, following Coinbase's debut in 2021 and Bullish's New York Stock Exchange launch in August 2025, when its shares more than doubled on the first day of trading.

Gemini was founded in 2014 by twins Cameron and Tyler Winklevoss, who rose to prominence through a legal dispute with Facebook founder Mark Zuckerberg. The firm has since grown into a recognized name in the crypto sector but faces ongoing challenges.

Financial filings show a net loss of $282.5 million on revenue of $67.9 million for the six months ending June 30. Despite this, the listing reflects continuing investor interest in digital asset platforms even as the sector endures volatility and regulatory scrutiny.

Earlier this year, Gemini was fined $5 million by the Commodity Futures Trading Commission for making "false and misleading statements" to the regulator. In February 2024, the company returned $1.1 billion to customers affected by the collapse of its partnership with crypto lender Genesis.