The exchange updated its IPO offer with 15.18 million shares at $28 each.
Gemini shares are expected to debut on Nasdaq on Friday.
Winklevoss Brothers and Irish Prime Minister. Source: Gemini
The initial public offering (IPO) of Gemini, the crypto exchange founded by the Winklevoss twins, has been oversubscribed 20 times, Reuters reported. Further, the exchange and its bankers decided to cap the IPO proceeds at $425 million, which is unusual.
IPO Offer Revised
Gemini initially planned to raise $317 million at a valuation of about $2.22 billion. The company first planned to offer 16.67 million shares priced between $17 and $19 each, but then received an offer price between $24 and $26 each.
Following high demand, the company again increased its IPO offer price yesterday (Thursday) to $28 per share, but lowered the number of offered shares to 15.18 million. This also explains reported the IPO cap the company has put in place.
At the top end of the offering, the company would have a market cap of over $3 billion. Its shares will likely start trading on Nasdaq from Friday’s session.
According to a Securities and Exchange Commission (SEC) filing, Gemini would have raised as much as $433 million in the first share sale without the cap. However, that figure excluded the $50 million the crypto exchange received from Nasdaq in a private placement.
Riding the IPO Wave
Gemini is going public when sentiment towards crypto-related IPOs is at its peak. Stablecoin issuer Circle and brokerage firm eToro, which generates substantial income from crypto trading, also had bumper IPOs earlier this year.
Although Circle shares are trading well above the debut price, they have almost halved from the peak reached within weeks of the listing. eToro, on the other hand, has lost a third of its debut value.
Bullish is another crypto exchange that went public in August. It also had a bumper IPO, but its shares are now trading 20 per cent lower than the debut value.
Bullish, eToro and Circle stocks since IPO (Source: Google Finance)
Founded in 2014 by Cameron and Tyler Winklevoss, Gemini has positioned itself as a regulated exchange for U.S. investors. However, the company has faced challenges, including a dispute with bankrupt lender Genesis that drew regulatory scrutiny, but continues to pursue growth in a competitive market.
Earlier this year, the U.S. Securities and Exchange Commission closed its investigation into the company. The exchange also settled a $5 million lawsuit with the Commodity Futures Trading Commission, clearing significant obstacles to its market debut.
The initial public offering (IPO) of Gemini, the crypto exchange founded by the Winklevoss twins, has been oversubscribed 20 times, Reuters reported. Further, the exchange and its bankers decided to cap the IPO proceeds at $425 million, which is unusual.
IPO Offer Revised
Gemini initially planned to raise $317 million at a valuation of about $2.22 billion. The company first planned to offer 16.67 million shares priced between $17 and $19 each, but then received an offer price between $24 and $26 each.
Following high demand, the company again increased its IPO offer price yesterday (Thursday) to $28 per share, but lowered the number of offered shares to 15.18 million. This also explains reported the IPO cap the company has put in place.
At the top end of the offering, the company would have a market cap of over $3 billion. Its shares will likely start trading on Nasdaq from Friday’s session.
According to a Securities and Exchange Commission (SEC) filing, Gemini would have raised as much as $433 million in the first share sale without the cap. However, that figure excluded the $50 million the crypto exchange received from Nasdaq in a private placement.
Riding the IPO Wave
Gemini is going public when sentiment towards crypto-related IPOs is at its peak. Stablecoin issuer Circle and brokerage firm eToro, which generates substantial income from crypto trading, also had bumper IPOs earlier this year.
Although Circle shares are trading well above the debut price, they have almost halved from the peak reached within weeks of the listing. eToro, on the other hand, has lost a third of its debut value.
Bullish is another crypto exchange that went public in August. It also had a bumper IPO, but its shares are now trading 20 per cent lower than the debut value.
Bullish, eToro and Circle stocks since IPO (Source: Google Finance)
Founded in 2014 by Cameron and Tyler Winklevoss, Gemini has positioned itself as a regulated exchange for U.S. investors. However, the company has faced challenges, including a dispute with bankrupt lender Genesis that drew regulatory scrutiny, but continues to pursue growth in a competitive market.
Earlier this year, the U.S. Securities and Exchange Commission closed its investigation into the company. The exchange also settled a $5 million lawsuit with the Commodity Futures Trading Commission, clearing significant obstacles to its market debut.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Kalshi Prediction Market and TRON Integration Bridges Traditional Finance with Crypto
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
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Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
