Nasdaq to Invest $50M in Winklevoss Twins’ Gemini Ahead of IPO: Reuters
Nasdaq plans to invest $50 million in Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, Reuters reported Tuesday, citing sources familiar with the matter. The move provides Gemini with capital and service integration ahead of its planned Nasdaq listing.
As part of the private placement tied to the IPO, Nasdaq will acquire $50 million worth of Gemini shares. Beyond funding, Nasdaq clients will gain access to Gemini’s custody and staking services, while Gemini’s institutional users will benefit from Nasdaq’s Calypso system—a multi-asset trading and risk management platform—including its collateral management features for margin tracking and risk oversight.
Gemini is targeting a Nasdaq debut under the ticker GEMI on Friday, though the timeline may change depending on market conditions. The offering coincides with a rebound in U.S. equity capital markets, where strong first-day performances from companies like Figma have encouraged private firms to explore investor appetite. Crypto-focused IPOs, including Circle and Bullish, have also attracted strong institutional interest in recent months.
If completed, Gemini would become the third publicly traded U.S. crypto exchange, following Coinbase—which this year became the first crypto trading platform to join the S&P 500—and Bullish, CoinDesk’s parent company.
European Expansion
Gemini is also deepening its presence in Europe. In a September 5 blog post, the company announced new offerings for more than 400 million investors across the European Union and European Economic Area.
The launch includes staking services for Ether (ETH) and Solana (SOL), as well as Gemini Perpetuals—a regulated derivatives platform that allows leveraged perpetual contracts up to 100x with no fixed expiration. Staking operates under MiCA approval via Gemini’s Malta entity, while derivatives comply with MiFID II rules.
Mark Jennings, Gemini’s CEO for Europe, said the company aims to provide a secure, easy-to-use platform. “Staking allows investors to earn rewards by contributing crypto to blockchain validation pools, while perpetual contracts give professional traders more ways to manage risk or take directional positions,” he explained.
Gemini’s staking service supports flexible pools with no minimum deposits, daily reward accrual, and yields of up to 6% APR for SOL. Perpetual positions can be collateralized with spot account assets, denominated in USDC, and managed within the same interface as spot trading.
Jennings emphasized that these initiatives are part of a broader strategy to make Europe a cornerstone of Gemini’s business. “MiCA gives the EU an opportunity to lead globally on crypto regulation, setting standards across 30 jurisdictions and providing investors with greater confidence,” he said. “Europe continues to be a strategic focus for Gemini, and the region can set the global benchmark for clear, consistent crypto rules.”
