Gemini’s IPO: Winklevoss Twins Make $3B in Crypto Magic, Wall Street Sighs in Envy

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Finance

What to know:

  • Crypto exchange Gemini priced its IPO at $28/share, valuing the crypto exchange at about $3.3 billion. 💸
  • The company sold 15.2M shares, raising $425 million. No biggie, right? 🤷‍♂️
  • The stock starts trading Friday. Hold onto your wallets! 📈

Ah, Gemini! Backed by the illustrious Tyler and Cameron Winklevoss (yes, the *same* Winklevoss twins who once argued over Facebook like two toddlers over a toy), has decided to grace us mere mortals with its public offering. At a modest price of $28 per share, they’ve now pushed their company to a staggering $3.3 billion. I mean, sure, why not? Who needs modesty when you’re swimming in crypto cash? 💰

In case you’re wondering how much excitement this generated, the IPO was so popular it was 20 times oversubscribed-because who wouldn’t want a slice of that sweet, sweet digital pie? 🍰 They sold 15.2 million shares, bringing in $425 million like it was just another day at the office. How quaint.

And hold onto your horses, folks! These shares will soon start trading on the Nasdaq Global Select Market (such a mouthful), under the oh-so-subtle ticker symbol GEMI. Can’t wait to see that ticker zooming up like a rocket on its way to the moon… or at least to the next financial crisis. 🚀📉

But wait, there’s more! The ever-so-trustworthy Nasdaq (because when you think stability, you think crypto, right?) decided to buy $50 million worth of Gemini’s stock in a private placement. How charming, another giant putting its eggs in the crypto basket. 🥚🥚🥚

And for those who need reassurance, the IPO was underwritten by a team of financial juggernauts: Goldman Sachs, Citigroup, Morgan Stanley, and Cantor. You know, the folks who *never* get anything wrong… unless it’s 2008. 🙄

In a last-minute twist, Gemini decided to raise the price range for the IPO to $24-$26, from the earlier $17-$19. Because, obviously, why not squeeze a little more out of the gullible public? After all, who needs to plan for tomorrow when you’ve got people lining up to hand you cash today? 😏

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2025-09-12 15:58