Gemini IPO Ensures Winklevoss Twins Retain Tight Control | US Crypto News
Welcome to the US Crypto News Morning Briefing—your important rundown of an important developments in crypto for the day forward.
Grab a espresso, as a result of Wall Street and crypto are colliding as soon as once more. Gemini, the alternate based by the Winklevoss twins, has formally launched its long-anticipated IPO, marking one more take a look at for a digital asset platform in public markets.
Crypto News of the Day: Winklevoss Twins Cement Control Over Gemini With Dual-Class Stock Structure
The Gemini exchange, the cryptocurrency alternate co-founded by Cameron and Tyler Winklevoss, has launched its long-awaited preliminary public providing (IPO), after filing in June.
It goals to lift as a lot as $317 million, providing 16,666,667 Class A standard shares priced between $17 and $19 per share. Underwriters have a 30-day choice to buy as much as 2.5 million shares to cowl over allotments.
With this, Gemini has utilized to record its inventory on the Nasdaq Global Select Market below the “GEMI” ticker image.
In readiness for the launch, the alternate appointed a brand new CFO, Dan Chen, who had beforehand labored at Affirm, MetLife Investments, and Morgan Stanley.
“I’m wanting ahead to serving to Gemini scale by driving monetary technique as the corporate enters its subsequent development part. Let’s construct!” Chen wrote.
Goldman Sachs and Citigroup are main the providing, and Morgan Stanley, Cantor Fitzgerald, and several other different main banks are bookrunners.
Meanwhile, the IPO submitting highlights Gemini’s dual-class inventory construction, which ensures that the Winklevoss twins will retain tight management over the alternate.
While Class A shares carry one vote every, the Class B shares, completely held by the co-founders, grant ten votes every. This setup classifies Gemini as a “managed firm” below Nasdaq guidelines.
The alternate manages over $18 billion in customer assets. It serves over 500,000 month-to-month lively customers and 10,000 institutional purchasers throughout greater than 60 international locations.
Since its founding, Gemini has processed over $800 billion in transfers and over $285 billion in buying and selling quantity.
Financial Challenges Remain for Gemini
Despite its international presence, Gemini faces steep monetary headwinds. In 2024, the agency generated $142.2 million in income however posted a internet lack of $158.5 million.
BeInCrypto reported that losses deepened in the first half of 2025, with a internet lack of $282.5 million on $67.9 million in income.
Against this backdrop, Gemini has relied on loans from Winklevoss Capital Fund to assist operations.
“…Their enterprise fund, Winklevoss Capital, has backed tons of crypto tasks — like Ethereum, Filecoin, Tezos, and extra. They consider crypto is the way forward for cash and the web,” a consumer shared in a latest publish on X.
The alternate has additionally borrowed Bitcoin and Ether for liquidity and compliance functions and maintains a credit score line with Ripple.
Meanwhile, Gemini’s IPO comes amid a busy pipeline of high-profile listings, including Circle, BitGo, and Figma.
Others embrace Klarna, Revolut, and Discord, which analysts say may outline the 2026 IPO calendar.
“2026 might be a busy yr,” ListingTrack.io indicated.
Meanwhile, others like Tether shun public listings, with CEO Paolo Ardoino citing confidence in its private structure.
Similarly, a latest US Crypto News publication explored what a Ripple IPO would imply for XRP holders. The hypothesis got here after Coinbase IPO buyers profited for the primary time in July after shopping for in through the alternate’s 2021 public itemizing, additionally reported in a latest US Crypto News publication.
For the crypto alternate, the Nasdaq debut represents a fundraising milestone and a bid to reassure buyers of its endurance in a extremely aggressive digital asset market.
Chart of the Day
Byte-Sized Alpha
Here’s a abstract of extra US crypto information to observe immediately:
- Why Forbes doesn’t count Satoshi Nakamoto as a Billionaire—And Why That issues.
- Gold hits record highs: What specialists say about its correlation with Bitcoin.
- WLFI’s buyback strategy: Use all POL charges to purchase and burn.
- Bitcoin price recovery could quickly accelerate if this degree breaks.
- Bitcoin faces triple ‘death cross’ warning amid a traditionally weak September.
- Cyvers confirms {that a} Venus Protocol trader loses $30 million in a serious error.
- On-chain information exhibits ongoing Bitcoin correction is “healthy”
Crypto Equities Pre-Market Overview
| Company | At the Close of August 29 | Pre-Market Overview |
| Strategy (MSTR) | $334.41 | $334.94 (+0.18%) |
| Coinbase (COIN) | $304.54 | $307.23 (+0.88%) |
| Galaxy Digital Holdings (GLXY) | $23.49 | $23.01 (-2.04%) |
| MARA Holdings (MARA) | $15.98 | $15.81 (-1.06%) |
| Riot Platforms (RIOT) | $13.76 | $13.48 (-2.03%) |
| Core Scientific (CORZ) | $14.35 | $14.17 (-1.25%) |
The publish Gemini IPO Ensures Winklevoss Twins Retain Tight Control | US Crypto News appeared first on BeInCrypto.
