Shares of Gemini (GEMI), the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, have been trading below their IPO price of $28. On Thursday, the stock was priced at approximately $25.15, reflecting a 2.5% gain from previous trading after recouping earlier losses. The price dipped below the IPO price for the first time on Wednesday, despite a strong opening at $37.01 during its initial public offering. The offering raised $425 million, selling 15.2 million shares and valuing the company at over $3 billion. Gemini provides a range of crypto services, including a spot exchange, custody solutions, and a U.S. dollar-backed stablecoin, holding over $21 billion in assets as of July.
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