Cryptocurrency exchange Gemini Space Station is set to land on Nasdaq this week, with the IPO pricing raised to $24-26 per share

According to Zhitong Finance APP, the New York cryptocurrency exchange Gemini Space Station has raised its initial public offering (IPO) fundraising scale to $433.3 million. According to a document submitted to the U.S. Securities and Exchange Commission (SEC) on Tuesday, the company has adjusted the IPO pricing range from $17-19 per share to $24-26 per share, with the number of shares issued remaining at 16.7 million. Based on the new upper pricing range, the company's valuation will reach approximately $3.1 billion. The company plans to list on the Nasdaq Global Select Market under the stock code "GEMI."

It is reported that Gemini was founded in 2014 and currently manages assets exceeding $18 billion on its platform. The company's business includes cryptocurrency trading, issuance of U.S. dollar stablecoins, cryptocurrency asset custody, staking services, and crypto rewards credit cards. According to the prospectus, in the first half of 2025, Gemini achieved total revenue of $68.6 million, a decrease compared to the same period last year, but the net loss widened to $283 million. Trading fee revenue accounted for 65.5%, indicating the company's high reliance on trading volume fluctuations.

It is worth mentioning that the Nasdaq exchange is making significant investments in the cryptocurrency field and accelerating its expansion through substantial investments. According to the document submitted to the SEC, Nasdaq will invest $50 million in Gemini, which is set to debut on Nasdaq this week, by purchasing its shares through a private placement. This transaction will be settled immediately after Gemini completes its IPO