Gemini, the crypto asset exchange founded by Cameron and Tyler Winklevoss, has recorded a significant milestone ahead of its public debut. Recent reports indicate that Nasdaq will not only serve as the exchange where Gemini will be listed but will also inject capital and establish a strategic partnership, strengthening the synergy between traditional finance and crypto.

Ahead of its IPO, Gemini secured a USD 50 million investment from Nasdaq through a private placement, signaling major institutional confidence in the platform. The alliance enables Nasdaq to gain access to Gemini’s crypto custody and staking services, while Gemini’s institutional clients can leverage Nasdaq’s Calypso platform for trading collateral management.

Gemini is targeting an IPO valuation of USD 3.08 billion with a share price between USD 24 and 26, up significantly from the initial projection of USD 17 to 19 per share. This move positions Gemini’s IPO as one of the largest debuts of the year, supported by equity market optimism and institutional investor confidence through Nasdaq’s backing.

Despite its strategic support, Gemini’s financial report for the first half of 2025 reveals significant challenges: the company posted a net loss of USD 282.5 million on revenue of USD 68.6 million, an increase compared to the same period last year.

Strategic Alliance Benefits

• For Nasdaq: Expands its presence in the digital asset industry with efficient custody and staking solutions.

• For Gemini: Gains access to institutional management platforms such as Calypso while enhancing legitimacy through Nasdaq’s endorsement.
  
   

This initiative aligns with the global trend of traditional financial institutions becoming more open to digital assets, providing a solid foundation for long-term adoption. With Nasdaq’s financial and strategic backing, Gemini is preparing its public debut as a bridge between the traditional and crypto worlds, even as losses remain a challenge that must be addressed.