Winklevoss Twins' Gemini Hits $4.4 Billion Valuation In Strong Nasdaq Debut

Mohd Haider

September 13, 2025

Shares of Gemini Space Station Inc. (NASDAQ:GEMI) surged 32.2% during their first day of trading on Friday, bringing the cryptocurrency exchange’s total value to $4.4 billion and signaling a renewed interest from investors in digital assets.

Check out the current price of GEMI stock here.

Strong Market Opening Above IPO Price

The company's shares debuted at $37.01, significantly higher than the initial public offering price of $28. Gemini raised $425 million by selling around 15.2 million shares, according to a Reuters report. The initial price range for the offering was set at $24-$26 per share but was raised due to high investor demand.

Crypto IPO Wave Drives Market Recovery

Gemini’s debut marks the conclusion of a strong week for cryptocurrency companies in the U.S. IPO market. Blockchain lender Figure Technologies Inc. (NYSE:FIGR) also had a standout performance on Thursday, following the impressive debut of cryptocurrency exchange Bullish Global, whose shares more than doubled last month.

See Also: Palantir’s 100x Revenue Multiple ‘Inspired’ Billionaire Marc Benioff, Maybe CRM Is ‘Not Charging Enough,’ Says Salesforce CEO

“Gemini has chosen the perfect time to capitalize on the favorable environment,” said Jacob Zuller, analyst at Third Bridge, citing recent regulatory shifts from the pro-crypto Trump administration.

Winklevoss Brothers’ $2.8 Billion Stake

According to reports, billionaire twins Cameron and Tyler Winklevoss now own around 75 million shares of Bullish Global after its IPO, which are worth about $2.78 billion according to Securities and Exchange Commission filings.

Financial Performance and Outlook

Despite reporting a net loss of $282.5 million in the first quarter, up from $41.4 million year-over-year, institutional adoption continues driving trading volumes. Nasdaq‘s (NASDAQ:NDAQ) $50 million strategic investment earlier this week boosted investor confidence.

Gemini joins Coinbase Global Inc. (NASDAQ:COIN), Bullish (NYSE:BLSH), and Robinhood Markets Inc. (NASDAQ:HOOD) as publicly-listed digital asset exchanges serving U.S. investors.

Price Action: According to Benzinga Pro data, on Friday, the cryptocurrency exchange closed at $32.00, marking a 14.29% increase.

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Photo Courtesy: Grey82 / Shutterstock.com

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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