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Home DeFi Web 3

rewrite this title Gemini Valuation Could Top $3 Billion as Crypto Exchange Raises IPO Share Price – Decrypt

Logan Hitchcock by Logan Hitchcock
September 10, 2025
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rewrite this title Gemini Valuation Could Top  Billion as Crypto Exchange Raises IPO Share Price – Decrypt
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rewrite this content using a minimum of 1000 words and keep HTML tags

In brief

Gemini is upsizing its IPO target, anticipating selling shares between $24-26.
The firm initially expected to offer more than 16 million shares between $17-19.
It will trade under the ticker GEMI when it hits the market, expected on Friday.

American crypto exchange Gemini increased its expected initial public offering (IPO) share price to a range of $24-26, potentially bringing the firm’s valuation north of $3 billion when it hits the market. 

In an SEC filing dated September 9, the firm said it will offer 16,666,667 common shares of GEMI at the updated price range. Initially it anticipated offering the same amount of shares priced between $17-19. 

“Financial markets are moving on-chain and digital assets are profoundly changing the way we transact and store value,” wrote the firm’s founders Tyler and Cameron Winklevoss in a letter attached to the filing. “This is the crypto frontier and we are building a super app for it. We believe Gemini is uniquely positioned to contribute to this future and ensure that you are a part of it.” 



The exact date of the IPO is still outstanding, but the firm indicated it will be “as soon as practicable” relative to the effective filing date. 

Gemini first made its intentions known earlier this summer, filing to go public in June, following the success of stablecoin issuer Circle’s massive IPO. 

Circle similarly upsized its IPO offering amid increasing demand, jumping from $24 to $31 by the time it occurred. After hitting the market, shares were halted multiple times after the price of CRCL more than tripled on the opening day of trading.

Gemini’s IPO is being underwritten by Goldman Sachs, Cantor, and Morgan Stanley, among others, with GEMI set to trade on the Nasdaq. Shares are expected to begin trading Friday.

The firm requested that 10% of the IPO shares, or around 1.67 million shares of GEMI, be reserved for sale through “a directed share program to certain individuals and entities.” 

Additionally, Gemini said in the filing that it entered into a separate agreement with Nasdaq Inc. to sell $50 million worth of shares at the IPO price, less underwriting discounts and commission.

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