Cryptocurrency exchange Gemini Space Station (GEMI.US) landed on NASDAQ this week, IPO pricing raised to $24-26 per share.

The New York cryptocurrency exchange Gemini Space Station has increased the size of its initial public offering (IPO) to $433 million. According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Tuesday, the company has raised its IPO price range from $17-19 per share to $24-26 per share, with a total of 16.7 million shares being offered. With the new pricing range, the company's valuation is estimated to reach around $3.1 billion. Gemini plans to list on the Nasdaq Global Select Market under the stock symbol "GEMI." Founded in 2014, Gemini currently manages assets exceeding $18 billion. The company's business includes cryptocurrency trading, issuing US dollar stablecoins, cryptocurrency custody, staking services, and cryptocurrency reward credit cards. According to the prospectus, in the first half of 2025, Gemini generated total revenue of $68.6 million, a decrease from the same period last year, but the net loss expanded to $283 million. Trading fees accounted for 65.5% of revenue, indicating the company's high dependence on trading volume fluctuations. It is worth noting that the Nasdaq Stock Market is actively expanding into the cryptocurrency field and accelerating its growth through substantial investments. According to a filing with the SEC, Nasdaq will invest $50 million in Gemini when it lists on Nasdaq later this week, by purchasing its shares through a private placement. This transaction will be settled immediately after Gemini completes its IPO.