GEMINI OF THE WINKLEVOS RECAUDA USD $ 425 million in their stock debut

By Hannah Pérez

Gemini becomes the third exchange of public cryptocurrencies in the US. After raising USD $ 425 million in its IPO. Their shares had a price of $ 28 each, higher than the expected range of 24 to 26 dollars.

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• The Gemini exchange announces a collection of USD $ 425 million in its IPO.
• Sell ​​shares for USD $ 28 each, on the expected range of USD $ 24 to USD $ 26.
• It becomes the third public cryptocurrency exchange in the US.

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Geminithe exchange of cryptocurrencies founded by the Winklevos brothers, announced the collection of USD $ 425 million in its initial public offer (IPO), according to an official statement published on Friday.

The company sold 15.18 million class A A USD $ 28 each, exceeding the initial market price range of USD $ 24 to USD $ 26 per share. This represented an increase with respect to its previous estimate of USD $ 17 to USD $ 19.

At the beginning of the week, Gemini He had announced an increase in the size of the USD IPO $ 317 million to USD $ 433 million, pointing to a total valuation of USD $ 3.1 billion. He plans to debut at the Nasdaq this Friday under the “Gemi” symbol.

The IPO, which marks a milestone for the platform led by billionaires Cameron and Tyler Winklevos –known for their legal dispute with Facebook in 2008 and among the first millionaires of Bitcoin known in the world– reflects the growing acceptance of cryptocurrencies in traditional financial markets.

Gemini is the third exchango crypto in making public

According to BloombergThe company reduced the number of shares offered to optimize the valuation, which resulted in a strong demand for investors. Among the institutional actors that support the exit to the stock market, it is reported that Nasdaq has agreed to buy shares for a value of USD $ 50 million in a private placement at the price of the IPO.

Gemini It is reserving up to 10% of the IPO for users, managers, employees, friends and family of long data, and up to 30% for retail investors in self -directed investment platforms operated by companies such as companies such as companies such as companies such as companies such as companies such as companies such as companies such as companies such as companies such as companies such as companies such as companies such as Robinhood and Sofiaccording to coverage.

Winklevos twins are expected to control around 94.5% of the vote power after the IPO, add the report.

Geminiknown for its focus on regulatory compliance and security, seeks to use funds to expand its technological infrastructure and global presence in the cryptocurrency market.

Founded in 2014, Gemini It has more than USD $ 21 billion in assets on the platform. The company offers an exchange of cryptocurrenciesa Stablecoin backed by dollars, staking, custody and a credit card with cryptocurrency rewards. The IPO will make it the third exchange of public cryptocurrencies in the United States, after Coinbase and Bullish.

The successful IPO of Gemini It reinforces the relevance of cryptocurrency platforms in the financial panorama, consolidating the vision of Winklevos to integrate digital finances with traditional markets. It also adds to a growing list of companies in the cryptocurrency industry that have also recently left the stock market, including Circle and Galaxy.

The company Figure Technologieswhich offers loans Blockchainexperienced a successful IPO in Nasdaq on Thursday, during which its shares were sold 40% higher than the initially estimated range.

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