Gemini Soars 14% On Nasdaq Debut To Hit $3.8B Valuation

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Gemini Space Station, the crypto exchange founded by Tyler and Cameron Winklevoss, surged 14% on its Nasdaq debut yesterday after its IPO raised $425 million.

GEMI shares briefly traded above $40 to give Gemini a valuation of $4.75 billion, before paring gains to close at $32 with a valuation of about $3.8 billion.

Incredibly proud to be part of the amazing @Gemini team! Today’s IPO launch at @Nasdaq was an unforgettable experience. pic.twitter.com/EL6hY8e2W9

— Nathan Ignoffo (@IgNoffs) September 13, 2025

Gemini surged on opening to trade at $37.01, with early extreme volatility halting trading for ten minutes.

GEMI price chart

GEMI price chart (Source: Yahoo Finance)

Gemini’s Debut Mirrors The Performance Of Other Crypto IPOs

The volatility seen during Gemini’s debut trading day mirrors the first trading sessions of other crypto listings this year.

USD Coin (USDC) stablecoin issuer Circle also saw its share price go parabolic shortly after its public market debut.

Similarly, the Peter Thiel-backed Bullish saw its shares open their first trading day at $102, which was significantly higher than its IPO price of $37 per share. Bullish’s stock price then retraced to close the day off at $68.

Another crypto firm called Figure Technology Solutions made its debut as well earlier this week. Its shares closed the day approximately 24% higher.

Other crypto companies are now looking to enter the public arena, including BItGo, Grayscale, and Kraken.

Gemini Co-Founders Say This Is Just The Beginning For Crypto

Gemini was founded in 2015 by the Winklevoss twins. Speaking in an interview with CNBC yesterday, the exchange’s co-founders said that the crypto market is still in its early stages.

They noted that when the platform was launched, the only crypto in the market was Bitcoin (BTC), which traded at around $380 at the time. Since then, the crypto market leader’s price has gone parabolic, and trades at $115,768.77 as of 1:00 a.m. EST., data from CoinMarketCap shows.

Bitcoin price chart BTC price chart (Source: CoinMarketCap)

They predicted that Bitcoin will eventually trade at $1 million per coin, calling the digital asset “gold 2.0.”

“We think there’s easily a 10X from here, and it’s still really early,” they said during the interview.

The Gemini co-founders said that the recent “Project Crypto” initiative unveiled by the US Securities and Exchange Commission (SEC) and Gemini’s own partnership with Nasdaq shows that crypto adoption “is just getting started.”

When asked if Bitcoin might eventually stop appreciating and become a transactional currency, the Winklevoss twins said they don’t see things that way. They reiterated that Bitcoin is “gold 2.0,” noting that nobody buys coffee with gold.

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