Winklevoss Brothers’ Gemini Space Station Prices IPO Above Range

Gemini Space Station, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, priced its IPO at $28 per share on Thursday, valuing the company at $3.3 billion, according to CNBC. The price came in above the expected $24 to $26 range after Gemini boosted its target earlier in the week from $17 to $19. The company sold 15.2 million shares for $425 million, reflecting strong investor demand. Underwriters Goldman Sachs, Citigroup, and Morgan Stanley are holding a 30-day option for more shares. Trading will begin on Nasdaq, with up to 30% of shares reserved for retail investors through platforms like Robinhood, SoFi, and Webull. Gemini holds $21 billion in assets but reported widening losses of $159 million in 2024 and $283 million in the first half of 2025. The IPO follows Nasdaq’s $50 million strategic investment, aimed at expanding access to Gemini’s custodial services and trade management technology.