📢 Nasdaq to Invest $50M in Gemini Ahead of Planned IPO
According to Reuters, informed sources revealed that cryptocurrency exchange Gemini, founded by Cameron and Tyler Winklevoss, is moving forward with its Nasdaq listing this week.
Gemini’s IPO could raise up to $317 million.
Nasdaq will act as a strategic investor, purchasing $50 million worth of stock privately at the time of the IPO.
The investment forms part of a collaboration allowing Nasdaq clients to access Gemini’s custody and staking services.
In turn, Gemini’s institutional clients will gain access to Nasdaq’s Calypso platform for collateral management and trading operations.
Gemini shares are expected to begin trading under the ticker “GEMI” as early as Friday, though insiders note the plan could shift depending on market conditions.