Gemini, the American crypto exchange co-founded by Tyler and Cameron Winklevoss, is going public by offering 16.67 million shares of its stock, GEMI, priced between $24 and $26. This IPO aims to capitalize on the surge in recent crypto public offerings, especially after Circle's successful IPO. Despite a substantial net loss in 2024 of $158.5 million, Gemini reported $142.2 million in revenue, primarily from trading fees. As it transitions into the public market, Gemini anticipates a valuation exceeding $3 billion based on expected share price estimates. The company plans to use IPO proceeds to enhance its service offerings and user engagement amid growing competition from centralized exchanges like Coinbase and Binance. The IPO is oversubscribed, and shares are set to debut soon, adding to the momentum building around crypto firms entering the public arena. This move reflects Gemini's strategy to attract traditional financial investors while expanding its product line and international reach.

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