Gemini’s stock ($ GEMI) reduces 14% in IPO debut; Winklevoss Brothers predict $ 1m bitcoin
The company filed the IPO this late Thursday for $ 28 a portion, which cost Gemini for about $ 3.3 billion before the commencement of the trade. That price is above the modified $ 24 to $ 26 range its set earlier in the week and higher than the initial range of $ 17 to $ 19. The offer covers 15.2 million shares.
On Friday, the stock opened at $ 37.01, a 32% premium on the offer price. Shares will climb a high $ 45.89 during Intraday trading before arranging at $ 32, still 14% above IPO level by closely.
Gemini, headquartered in New York, runs a suite of crypto services including a place exchange, conservation solutions for institutions, a US dollar supported by Stablecoin, a crypto credit card reward, and staking products. By the end of July, the company held more than $ 21 billion of properties on its platform. Files show Gemini who lost $ 159 million in 2024 and $ 283 million in the first half of 2025.
The Winklevoss Brothers, who became Bitcoin’s first billionaire after early cryptocurrency investment, appeared in the CNBC’s “squawk box” on the morning of the IPO. Tyler Winklevoss described Bitcoin as “Gold 2.0” and the adoption says remains in the “first inning.” He and his brother hoped that Bitcoin could have reached $ 1 million over the next decade.
Gemini’s list follows coinbases (Coins) In April 2021 and bullish (Blsh)who owns CoinDesk, Last month.
