Gemini ensures Nasdaq investment for USD $ 50 million in its IPO: report

By Hannah Pérez

Nasdaq will buy sharesi exchange shares, of the Winklevos, worth 50 million dollars in a private placement at the time of its IP, as reported by Reuters.

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• The exchange of Winklevos twins ensures the support of Nasdaq in its IPO.
• Gemini plans to become public in the US. This week, under the ‘Gemi’ symbol.
• It is reported that Nasdaq plans to buy shares for USD $ 50 million in the IPO.
• It is part of a broader list of crypto companies that are launched to the US stock market.

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Geminithe exchange of cryptocurrencies founded by the Cameron brothers and Tyler Winklevos, has assured Nasdaq As a strategic investor while moving forward with his plans for a price in New York this week, he reported Reuters.

According to two sources familiar with the matter, the giant stock exchange, Nasdaq, will invest USD $ 50 million in shares of Gemini In a private placement during the initial public offer (IPO)which could raise up to USD $ 317 million.

The investment is part of an association that will allow customers to Nasdaq access custody services and Staking of cryptocurrencies of Geminiwhile institutional clients of Gemini They can use the platform CALYPSO of Nasdaq To manage and track their commercial guarantees, according to the sources mentioned.

The agreement is not yet public and the plans could still change depending on market conditions, people warned.

Gemini Wait to quote Nasdaq on Friday under the “Gemi” symbol, with plans subject to market conditions.

Gemini prepares for his debut in Nasdaq

In a presentation last week, the exchange said that its goal is to sell 16,666,667 class A ordinary shares, – including the granting to the subscribers of a 30 -day option to buy 2,396,348 and 103,652 additional shares – at a price of between USD $ 17 and $ 19 per share through its IPO, seeking to raise more than USD $ 300 million.

The IPO of Gemini It occurs in a context of recovery for the US capital market, with a strong demand for new quotes, as noted Reuters. It is also a vibrant moment for the cryptocurrency market, which has seen an boom thanks to the friendly regulatory change promoted by the administration of President Donald Trump.

Digital asset companies such as Circle and Bullish They have had successful debuts recently in the bag, and Gemini It would be the third cryptocurrency exchange platform to publicly quote in the US Bullish and Coinbase. Other companies crypt like Grayscale, Bitgo and Coinshares They are also looking to throw themselves into the bag in the midst of acceptance of the sector.

Gemini It is one of the main cryptocurrency exchange platforms in the USA by negotiation volume, with USD $ 21 billion in assets and USD $ 285 billion in accumulated trading volume. In addition to online cryptocurrency trade, it offers services such as an Extraburstile Trade Desk (OTC), a Credit Card in the United States and support for digital assets such as Bitcoin, Ether and Stablecoinsgenerating most of your income from transaction commissions.

However, Gemini He reported a net loss of USD $ 282.5 million with revenues of USD $ 68.6 million in the six months until June 30, compared to a loss of USD $ 41.4 million and USD $ 74.3 million in revenues the previous year, according to a report presented to the Bag and Values ​​of US Commission. UU. (Sec).

The Winklevos brothers, known for their legal dispute with Facebook in 2008, are known in the world as the “Bitcoin twins”After having invested part of that agreement in cryptocurrencies, becoming some of the first billionaires in the sector.

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