Gemini, The Winklevoss’ Crypto Exchange, POPS in Nasdak for the first time

shares Gemini space station More than 40 % rose on Thursday after the stock exchange raised $ 425 million in a preliminary public offer.

The stock opened at $ 37.01 on the Nasdak Stock Exchange after the public subscription At $ 28. At one point, the shares were traded up to 40.71 dollars.

The New York -based company has priced the public offering late Thursday above the expected range this week from $ 24 to 26, and a first range ranges between $ 17 and $ 19. The company is estimated at about $ 3.3 billion before the start of trading.

GIMII, which operates in the first place, was established, exchanged a coded currency, by Winklevoss Brothers in 2014 and carried more than $ 21 billion of assets on its platform from the end of July. per registration With the Securities and Stock Exchange Committee, Gemini recorded a net loss of $ 159 million in 2024, and in the first half of this year, it lost $ 283 million.

The company also provides Stablecoin supported by US dollars and credit cards with an encrypted bonus program and an incubation service for institutions.

The Winklevoss brothers were among the oldest Bitcoin and bitcoin billionaire investors. They have long held that Bitcoin is a superior gold store. On Friday morning, tell CNBC’s Squawk box They see its price It reaches $ 1 million Hold from now.

In 2013, they were the first to apply for the launch of a Bitcoin Stock Exchange, more than 10 years before the approval of the investment funds circulating in the first Bitcoin at the end. The rejection of the Securities and Stock Exchange Committee rejected the application, which indicated the risk of fraud and manipulation of the market, the way to discuss Bitcoin ETF in the coming years.

Even in the early days, when Bitcoin was notorious due to its extreme fluctuations and roots to combat the institution, and Wall Street avoided, Winklevos Bracez was explicit about the need for the smart organization that would Setting rules for the financial revolution led by the encryption.

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