Gemini Shares Surge 45% on Nasdaq Debut After IPO

Gemini (GEMI) shares opened at $41 on Nasdaq, a 45% rise from its IPO price.
IPO priced at $28 per share valued Gemini at $3.3 billion, raising $425 million by selling 15.2 million shares.
Reported net loss of $283 million in the first half of the year, following a $159 million loss for all of 2024.
Secured a $50 million strategic investment from Nasdaq to expand crypto custody services and partner for trade management software.
Gemini's IPO aligns with other crypto platforms like Circle, Bullish, eToro, and Figure Technologies entering public markets amid favorable U.S. regulatory conditions.