Gemini Targets $2.22 Billion Valuation in Planned U.S. IPO
Gemini’s stock dips below its $28 IPO price, trading at $25.15, after an initial surge post-public offering. Despite this, the exchange’s valuation remains above $3 billion.
Fact Check
The statement is directly and strongly corroborated by multiple credible financial news sources, including Reuters (Source 11), Yahoo Finance (Source 8), and Banking Dive (Source 3). These sources explicitly state that Gemini is seeking a valuation of up to $2.22 billion in its U.S. IPO, based on a planned share price range. While other sources provide different figures, they refer to past funding rounds or secondary market estimates, not the official IPO target valuation.
- Reference: 1
Summary
Shares of Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, fell below their $28 IPO price, trading at $25.15, but recovered by 2.5%. The exchange went public last week, raising $425 million through the sale of 15.2 million shares. Gemini, with a valuation of over $3 billion, operates a suite of crypto services and holds more than $21 billion in assets as of July 2025.
Terms & Concepts
- IPO (Initial Public Offering): The process through which a private company offers shares to the public for the first time, enabling it to raise capital from investors.
- Crypto Custody: The services provided to securely store and manage cryptocurrencies, ensuring their safety and regulatory compliance.