Gemini, the crypto exchange founded by the Winklevoss twins, successfully raised $425 million in its Nasdaq IPO, pricing shares at $28 each, above the $24–$26 range. The offering sold about 15.2 million shares, valuing the company near $3.3 billion. Demand was robust, with subscriptions overshooting supply by nearly 20×, though Gemini capped proceeds instead of expanding the issue. A $50 million private placement with Nasdaq added further institutional backing. The IPO highlights strong investor appetite for crypto equities, showcasing confidence in Gemini’s growth prospects despite regulatory uncertainties and positioning the firm alongside Coinbase in the public markets.