Twin Entrepreneurs, the Winklevoss Brothers, aim for a $2.3 billion valuation for their cryptocurrency exchange, Gemini, through a public stock offering.
In a significant move for the crypto industry, Gemini, one of America's leading crypto exchanges, is gearing up for an Initial Public Offering (IPO) on the Nasdaq Global Select Market. The company's stock, symbolised as GEMI, is expected to debut on September 12, 2025.
The Winklevoss twins, who run Gemini, have been vocal supporters of the President in the lead-up to the 2024 election. Their backing is noteworthy, as they are among the few crypto executives to openly endorse political candidates.
Gemini's IPO follows in the footsteps of stablecoin issuer Circle, which saw its stock price quadruple its initial target within hours of debuting and has remained steady since then.
The Winklevoss twins have been prominently featured at crypto-related White House events this year, including March's crypto summit and the signing of the stablecoin-focused GENIUS Act in July. They were even seated in the front row at the GENIUS Act signing ceremony this summer.
The IPO will consist of approximately 16.6 million shares of Class A stock, and the company is aiming to raise up to $317 million. The exact price range for each share has been set between $17 and $19.
Goldman Sachs, Citigroup, Morgan Stanley, and Cantor Fitzgerald will serve as the lead underwriters for the IPO. These financial heavyweights have played a crucial role in facilitating the offering.
The regulatory environment in the crypto sector has been favourable under the Trump administration, with shifts spearheaded by the administration being beneficial for the industry. In fact, the SEC recently filed to pause its years-long lawsuit against Gemini over its crypto lending program shortly after President Trump retook office.
Gemini initially filed to go public with the SEC earlier this summer. The company's valuation, once the IPO is complete, is expected to be roughly $2.3 billion.
In addition to their involvement in the crypto industry, the Winklevoss twins have also announced a $21 million pro-crypto Political Action Committee (PAC) to defeat Democrats in the upcoming 2026 midterm election.
President Trump has praised the Winklevoss twins, calling them smart, handsome, and on their side. This endorsement from the President is likely to boost the company's profile and investor confidence ahead of its Wall Street debut.
The exact date of Gemini's Wall Street debut has not yet been announced, but with the IPO scheduled for later this year, the countdown to the crypto exchange's public listing is well and truly on.
