thecoinrise.com
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has increased its initial public offering (IPO) target ahead of its debut this Friday. The exchange now aims for a valuation exceeding $3 billion, reflecting growing investor enthusiasm for crypto-related businesses.
In its updated filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday, Gemini said it plans to offer its shares in the range of $24 to $26, up from the earlier $17 to $19 per share.
The exchange will still offer around 16.67 million shares but hopes to raise $433 million, up from its original goal of $317 million. This surge in the offering size and valuation underscores increasing confidence in crypto markets, particularly under the Trump administration’s more supportive stance toward digital assets.
Gemini Receives Nasdaq Support
Gemini’s IPO is further backed by Nasdaq, which will purchase 2.11 million shares in a $50 million private placement. Despite reporting a decline in revenue to $68.61 million for the first half of 2025, down from the same period last year, and a widening net loss of $282.47 million from $41.37 million, the exchange saw a nearly 50% increase in trading volume, reaching $24.8 billion.
This growth highlights investor interest despite operational losses. Nasdaq’s support lends credibility to Gemini’s offering, making it one of the most closely watched crypto IPOs this year.
Investor Interest in Crypto Firms Grows
Gemini’s move follows a broader trend of crypto companies gaining investor attention. Circle debuted on the New York Stock Exchange with a 167% first-day gain, while Bullish, a crypto exchange and media firm, saw its shares jump 218% at listing. Coinbase’s inclusion in the S&P 500 index in May marked another milestone, positioning crypto firms among established corporate players.
Reports also suggest that Kraken is preparing to raise $500 million at a $15 billion valuation, signaling that institutional investors are increasingly open to backing crypto ventures.
As Gemini prepares to go public, it is clear that crypto companies are no longer niche players but are attracting global capital.