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The new range would value the Winklevoss-led company at as high as roughly $3.1 billion versus about $2.2 billion at the previous price.
By Will Canny|Edited by Stephen Alpher
Updated Sep 10, 2025, 6:30 p.m. Published Sep 10, 2025, 6:22 p.m.
- Gemini raised the pricing guidance for its planned IPO on Friday.
- The crypto exchange now expects to sell shares between $24 and $26, versus a previous range of $17 to $19.
- At the high end of the new range, the company would raise more than $430 million at about a $3.1 billion valuation.
Gemini, the crypto exchange run by Tyler and Cameron Winklevoss, has boosted the price range for its planned Friday IPO, the company said in an updated S1 filing on Tuesday.
The firm now expects to sell 16.67 million shares between $24 and $26 each in the public offering versus the previous range of $17-$19. At the high end of the new range, Gemini would raise more than $430 million at about a $3.1 billion valuation.
STORY CONTINUES BELOW
Goldman Sachs, Citigroup, Morgan Stanley and Cantor are the lead underwriters on the IPO.
Crypto native companies are increasingly looking to go public under President Trump’s more benign regulatory regime. Gemini’s public listing follows that of rival exchange Bullish (BLSH), CoinDesk’s owner, and stablecoin issuer Circle (CRCL).
Exchange giant Nasdaq (NDAQ) has entered into an agreement to buy $50 million of shares in a private placement at a per share price equal to the IPO price.
The stock will list on the Nasdaq Global Select Market under the ticker symbol GEMI.
Read more: Crypto Exchange Gemini Aims for $2.22B Valuation in U.S. IPO, Seeking to Raise $317M
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