Gemini Exchange Surges 14% Post-IPO with $3.3 Billion Valuation

Gemini Space Station, founded by Tyler and Cameron Winklevoss, debuted on Nasdaq, raising $425 million in its IPO.
The IPO was priced at $28 per share, valuing Gemini at approximately $3.3 billion.
The stock opened at $37.01, marking a 32% increase from the offer price, peaking at $45.89 before closing at $32, 14% above the IPO level.
Gemini provides crypto services including a spot exchange, custody solutions, a stablecoin, a crypto rewards credit card, and staking products.
As of July, Gemini held over $21 billion in assets but reported losses of $159 million in 2024 and $283 million in the first half of 2025.
The Winklevoss brothers foresee bitcoin [BTC](https://holder.io/coins/btc/) reaching $1 million in the next decade, describing it as "gold 2.0".
Gemini's listing follows earlier debuts by Coinbase ([COIN](https://holder.io/coins/coinbase/)) in April 2021 and Bullish ([BLSH](https://holder.io/coins/bullish/)) last month.