Strategic investment from Nasdaq acquired! Cryptocurrency exchange Gemini will launch its IPO this week, raising over $300 million

On Tuesday, according to media reports, the cryptocurrency exchange Gemini, founded by the Winklevoss brothers, has secured Nasdaq as a strategic investor to support its listing plans in New York this week. According to media reports citing informed sources, the company's IPO could raise up to $317 million.

According to two informed sources, Nasdaq will invest $50 million in shares through a private placement during Gemini's IPO. This investment is part of a partnership that will provide Nasdaq clients with Gemini's custody and staking services.

Gemini is expected to begin trading on Nasdaq under the ticker "GEMI" on Friday. The company's latest financial report shows a net loss of $282.5 million and revenue of $68.6 million for the six months ended June 30.

This listing comes at a time of strong rebound in the U.S. stock capital markets, with high demand for new stock listings. Digital asset companies have recently been active in the IPO market, including the successful listings of stablecoin issuer Circle and cryptocurrency exchange Bullish.

Strategic Cooperation Deepens Business Synergy

Nasdaq's $50 million investment will be completed through a private placement, timed to coincide with Gemini's IPO. Informed sources indicate that this collaboration will achieve deep integration of both parties' businesses.

Under the agreement, Nasdaq's clients will gain access to Gemini's custody and staking services. At the same time, Gemini's institutional clients will also be able to use Nasdaq's Calypso platform to manage and track trading collateral.

It is worth mentioning that Gemini's listing plans coincide with a strong rebound in the U.S. stock capital markets. Recently, there has been high demand for new stock listings, and strong first-day performances have encouraged more private companies to test investor appetite.

Recently listed companies, such as design software manufacturer Figma and space technology company Firefly Aerospace, attracted strong investor demand on their first trading days.

Digital asset companies have also performed prominently in the IPO market in recent months, including the significant listings of stablecoin issuer Circle and cryptocurrency exchange Bullish. After its listing, Gemini will become the third publicly traded cryptocurrency exchange, following Bullish and Coinbase.

Significant Business Scale but Facing Loss Pressure

According to data provider Kaiko, Gemini is one of the largest cryptocurrency trading platforms in the U.S. by trading volume. The company holds $21 billion in assets and has a lifetime trading volume of $285 billion.

The exchange operates an over-the-counter trading platform, offers U.S. credit card services, and supports various digital assets, including Bitcoin, Ethereum, and stablecoins. The company serves both retail and institutional investors, with its main source of revenue coming from trading fees.

However, Gemini faces profitability pressure. According to previously submitted documents to the U.S. Securities and Exchange Commission, the company reported a net loss of $282.5 million and revenue of $68.6 million for the six months ended June 30. In comparison, the net loss for the same period last year was $41.4 million, with revenue of $74.3 million The Winklevoss brothers rose to fame due to their legal dispute with Facebook and CEO Mark Zuckerberg in 2008, and later gained the nickname "Bitcoin Twins" after investing part of their settlement in cryptocurrency and becoming some of the world's first cryptocurrency billionaires