Nasdaq invests $50 million in the cryptocurrency exchange Gemini (GEMI.US) to support its $317 million IPO plan.

Gemini Space Station, founded by the Winklevoss twins, has secured up to $50 million in private investments from Nasdaq, with plans for an IPO. According to a revised S-1 filing submitted by Gemini on Tuesday, the cryptocurrency exchange has reached an agreement with Nasdaq to purchase its Class A common stock. The transaction will be completed immediately after its public offering, at a price per share equal to Gemini's IPO price minus underwriting discounts and commissions, and subject to certain closing conditions. Led by billionaires Tyler and Cameron Winklevoss, Gemini plans to raise up to $316.7 million through its initial public offering, becoming the latest cryptocurrency company seeking a US listing. Based in New York, the crypto exchange and custodian plans to issue 16.7 million shares at a price of $17 to $19 per share, with trading expected to begin on Friday. Media reports earlier this month indicated that the IPO has already received oversubscriptions from institutional investors through one-on-one meetings. Gemini plans to list on Nasdaq under the ticker symbol "GEMI". Goldman Sachs Group, Inc. and Citigroup are the main underwriters for this offering. This transaction comes amidst a strong resurgence in US IPO activity, with a strong market environment and impressive first-day performances fueling investor interest, leading more private companies to choose to go public.