Gemini Plans to Go Public via Nasdaq as Crypto IPOs Boom
Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, has filed with the SEC to launch an initial public offering (IPO), following a previous confidential filing two months ago. The exchange plans to list on the Nasdaq Global Select Market under the ticker GEMI. Specific details regarding the number of shares offered and the price range have not yet been disclosed, nor has a timeline been established for the IPO. Major financial institutions including Goldman Sachs, Citigroup, and Morgan Stanley will be involved as lead bookrunners. The increased interest in crypto IPOs follows the successful debut of USDC issuer Circle, which saw its stock rise significantly shortly after its launch. The market appears ripe for cryptocurrency companies going public, with recent movements in valuations indicating strong demand for digital asset firms in a more favorable regulatory landscape after recent changes in the U.S.
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