Tue Sep 02 17:20:00 UTC 2025: ## Winklevoss Twins’ Gemini Exchange Files for $317 Million IPO

**New York, NY -** Gemini Space Station, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has officially filed for an Initial Public Offering (IPO), aiming to raise up to $317 million. The company, recognized as an “emerging growth company” under U.S. securities laws, plans to offer 16.67 million shares of Class A common stock, priced between $17 and $19 per share.

The filing, submitted to the Securities and Exchange Commission (SEC) on Tuesday, comes weeks after Gemini expressed its intention to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “GEMI” on August 16th. Market analysts estimate the IPO could give Gemini a valuation of up to $2.22 billion.

A consortium of leading financial institutions is backing the offering, with Goldman Sachs, Citigroup, Morgan Stanley, and Cantor acting as lead bookrunners. Other participating firms include Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, Needham & Company, and Rosenblatt, with Academy Securities, AmeriVet Securities, and Roberts & Ryan acting as co-managers.

The underwriters have also been granted an option to purchase up to an additional 2.4 million shares of Class A common stock at the IPO price within 30 days of the filing date. However, Gemini confirmed that it will not receive any proceeds from the sale of shares by existing stockholders who may exercise this option.

As an “emerging growth company,” Gemini is subject to reduced public company reporting requirements, including presenting only two years of audited financial statements and omitting a compensation discussion. The filing follows a confidential draft registration statement submitted in June, allowing the company to proceed with the IPO while temporarily withholding sensitive information from public view.

The move follows the public debut of Circle, the issuer of USDC stablecoin, on the New York Stock Exchange in early June. The success of Gemini’s IPO could further solidify the legitimacy and mainstream adoption of cryptocurrency exchanges within the traditional financial landscape.

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