Cryptocurrency exchange Gemini receives a $50 million investment from Nasdaq.

The cryptocurrency exchange Gemini, owned by the Winklevoss brothers, is preparing for an IPO and has secured up to $50 million in investment through a private placement transaction with Nasdaq. Documents show that Gemini has reached an agreement with Nasdaq, which will acquire its Class A common stock. The price per share in this transaction is equal to Gemini's IPO price minus underwriting discounts and commissions, and it will be completed immediately after the listing, subject to certain trading conditions. Led by billionaires Tyler Winklevoss and Cameron Winklevoss, Gemini plans to raise up to $316.7 million in its debut. According to the documents, the New York-based cryptocurrency exchange and custodial platform plans to issue 16.7 million shares at a price range of $17 to $19 per share. The stock is expected to begin trading on Friday.