Gemini Seeks $2.22 Billion Valuation in Planned U.S. IPO
Crypto exchange Gemini plans to seek a valuation of up to $2.22 billion in its upcoming U.S. initial public offering (IPO).
- The company intends to sell 16.67 million shares priced between $17 and $19, potentially raising $317 million.
- Goldman Sachs, Citigroup, Morgan Stanley, and Cantor are lead bookrunners for the IPO.
- Gemini filed an S-1 registration statement with the SEC in June, entering a favorable IPO market for crypto-linked companies.
- Financial disclosures indicate Gemini generated $142.2 million in revenue in 2024, up from $98.1 million in 2023.
- The IPO marks a milestone for founders Cameron and Tyler Winklevoss, promoting Gemini as a regulated alternative to offshore exchanges.
- Gemini has faced regulatory scrutiny, including issues with bankrupt crypto lender Genesis.
The firm is expected to trade under the ticker “GEMI.”