Reuters: Nasdaq to Invest $50 Million in Gemini, the Crypto Platform Founded by Winklevoss Twins

Nasdaq to Invest $50M in Winklevoss Twins’ Gemini Ahead of IPO: Reuters

Nasdaq is set to invest $50 million in Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, Reuters reported Tuesday, citing sources familiar with the matter. The investment comes as Gemini prepares for a Nasdaq listing, providing both capital and integrated services ahead of its initial public offering.

The private placement, tied to the IPO, will give Nasdaq shares in Gemini while also granting Nasdaq clients access to Gemini’s custody and staking services. Gemini’s institutional users will benefit from Nasdaq’s Calypso multi-asset trading and risk management system, including collateral management tools for margin tracking.

Gemini is targeting a Nasdaq debut under the ticker GEMI on Friday, although the timeline could shift depending on market conditions. The offering comes amid a rebound in U.S. equity capital markets, where strong IPO performances from companies like Figma have encouraged private firms to test investor demand. Recent crypto IPOs, including Circle and Bullish, have also drawn significant institutional interest.

If completed, Gemini would become the third publicly traded U.S. crypto exchange, joining Coinbase—which this year became the first crypto trading platform in the S&P 500—and Bullish, CoinDesk’s parent company.

European Expansion

Beyond the U.S., Gemini is expanding in Europe. In a September 5 blog post, the company announced new products for over 400 million investors across the EU and European Economic Area.

The expansion includes staking services for Ether (ETH) and Solana (SOL) and the launch of Gemini Perpetuals—a regulated derivatives platform offering leveraged perpetual contracts up to 100x with no fixed expiration dates. Staking operates under MiCA approval via Gemini’s Malta entity, while derivatives follow MiFID II regulations.

Mark Jennings, Gemini’s CEO for Europe, said the company aims to provide a secure, user-friendly platform. “Staking allows investors to earn rewards by contributing crypto to blockchain validation pools, while perpetual contracts offer traders additional tools to manage risk or take market positions,” he said.

Gemini’s staking service features flexible pools with no minimum deposits, daily reward accrual, and yields of up to 6% APR for SOL. Perpetual positions can be collateralized with assets in spot accounts, denominated in USDC, and managed in the same interface as spot trading.

Jennings described Europe as a strategic focus for Gemini. “MiCA gives the EU an opportunity to lead globally on crypto regulation, setting standards across 30 jurisdictions and providing investors with greater confidence,” he said. “Europe can set the global benchmark for clear, consistent crypto rules.”