Nasdaq to Take $50M Stake in Gemini Ahead of Crypto Exchange's IPO
The strategic investment will integrate Gemini's crypto custody and staking services, deepening the exchange operator's push into digital assets.
Nasdaq is deepening its involvement in the cryptocurrency sector, announcing a deal to purchase a $50 million stake in Gemini, the digital asset exchange founded by Cameron and Tyler Winklevoss. The move comes as Gemini prepares for its initial public offering, signaling a growing convergence between traditional financial infrastructure and the burgeoning crypto market.
The investment will be executed through a private placement of shares at the time of Gemini's IPO, . This strategic partnership is designed to be mutually beneficial. Nasdaq's clients will gain access to Gemini's established crypto custody and staking services, while Gemini's institutional clients will be able to use Nasdaq's Calypso platform for managing and tracking trading collateral.
Gemini is aiming to raise over $300 million from its IPO, with plans to list on the Nasdaq under the ticker symbol "GEMI." The company intends to offer shares at a price between $17.00 and $19.00. Upon its debut, Gemini will become the third publicly traded cryptocurrency exchange in the United States, a significant milestone for the industry.
The partnership aligns with and digital assets. For Gemini, securing Nasdaq as a strategic investor provides a powerful endorsement ahead of its public offering. The investment comes as the exchange navigates a challenging market, having reported a net loss of $282.5 million for the first half of 2025, a significant increase from the prior year, as detailed in its public filings. This collaboration underscores a key trend of established financial players strategically positioning themselves within the digital asset ecosystem.