Gemini Seeks $2.22B Valuation in Upcoming IPO, Offering 16.67M Shares

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, is making big moves in the U.S. and Europe. With a planned IPO, a new European license, and an XRP rewards card, the company is pushing ahead for growth despite challenging market conditions.

Gemini Eyes $2.22 Billion Valuation in IPO

Gemini is gearing up for a U.S. initial public offering with a targeted valuation of up to $2.22 billion. The exchange plans to sell 16.67 million shares priced between $17 and $19 each, which could raise as much as $317 million.

To cover over-allotments, Gemini and its selling shareholders may also offer an additional 2.5 million shares to underwriters. 

The company will list on the Nasdaq under the ticker GEMI, with Goldman Sachs and Citigroup leading the offering.

U.S. Crypto IPOs Gain Momentum

This comes amid a U.S. IPO boom, with strong market performances encouraging more companies to go public. Gemini’s listing would make it the third U.S. crypto exchange to go public, alongside Coinbase and Bullish.

Bullish raised $1.11 billion in its IPO, valuing the company at $5.4 billion. Stablecoin issuer Circle also raised over $1 billion, and other firms like BitGo, Grayscale, and Kraken are also exploring IPO opportunities. 

Regulators are working to make listings easier. 

SEC Chair Paul Atkins has also promised to “make IPOs great again” by addressing disclosure complexities and litigation risks. But details are still in the works. Nasdaq CEO Adena Friedman said that they have had productive talks on making it easier for companies to go public.

Gemini Expands in Europe with MICA License

Gemini also continues its global expansion.

The exchange recently secured a MiCA license in Malta, allowing it to offer crypto services across 30+ European countries. Malta will serve as Gemini’s European hub, supporting its regional growth.

Gemini continued with its IPO plans despite reporting a net loss of $282.5 million for the first half of 2025.

Gemini’s strategy shows that it is determined to grow its global presence and take on competitors. With a major IPO coming up and innovative products like the new XRP credit card, the exchange is a key player in the crypto market!