Nasdaq to Invest $50 Million in Gemini Crypto Exchange Before IPO
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, plans to go public on Nasdaq, which will also invest $50 million in Gemini shares as part of the initial public offering. Key points include:
- Nasdaq's investment is tied to a private placement and includes strategic collaboration.
- Clients of Nasdaq will access Gemini’s custody and staking services.
- Gemini’s institutional users can utilize Nasdaq’s Calypso system for collateral management.
- The anticipated Nasdaq debut is scheduled for Friday under the ticker GEMI.
- This IPO follows strong performances from firms like Figma and other recent crypto listings such as Circle and Bullish.
- If successful, Gemini will be the third publicly traded U.S. crypto exchange, following Coinbase and Bullish.
Expansion in Europe
Simultaneously, Gemini is expanding its operations in Europe with new products targeting over 400 million investors. Highlights include:
- Launch of staking services for ether and solana.
- Introduction of Gemini Perpetuals, allowing trading of perpetual contracts with up to 100x leverage.
- Staking overseen by a Maltese entity under MiCA approval; derivatives under MiFID II rules.
- Staking offers flexible pools with no minimum deposits and yields of up to 6% APR for SOL.
- Gemini aims to establish Europe as a key market, leveraging MiCA regulations for investor confidence.