Gemini Crypto IPO Rises 14% Amid Winklevoss Twins’ Bitcoin Call

Gemini Stock Climbs 14% in Nasdaq Debut as Winklevoss Twins Predict $1M Bitcoin

Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, surged in its Nasdaq debut Friday, reflecting investor enthusiasm and the founders’ bullish outlook on bitcoin.

The company priced its IPO Thursday at $28 per share, valuing Gemini at roughly $3.3 billion—above the revised $24–$26 range and well above the initial $17–$19 target. The offering included 15.2 million shares, raising $425 million.

Shares opened at $37.01, a 32% premium to the IPO price, peaked at $45.89 during intraday trading, and closed at $32, 14% above the offer price.

Based in New York, Gemini offers a spot exchange, institutional custody, a U.S. dollar-backed stablecoin, a crypto rewards credit card, and staking products. The platform held over $21 billion in assets as of July, despite posting losses of $159 million in 2024 and $283 million in H1 2025.

On CNBC’s “Squawk Box,” Tyler Winklevoss described bitcoin as “gold 2.0” and said adoption remains in the “first inning.” The brothers projected bitcoin could reach $1 million within the next decade.

Gemini’s IPO follows other major crypto listings, including Coinbase (COIN) in 2021 and Bullish (BLSH) last month.