Nasdaq to Invest $50M in Winklevoss Twins’ Gemini Ahead of Planned IPO: Reuters
Nasdaq will invest $50 million in Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, Reuters reported Tuesday, citing sources familiar with the matter. The investment comes as Gemini prepares to list on Nasdaq, providing both capital and service integration ahead of its initial public offering.
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 be able to leverage Nasdaq’s Calypso system—a multi-asset trading and risk management platform—including its collateral management features for margin tracking.
Gemini is targeting a Nasdaq debut under the ticker GEMI on Friday, though the schedule could shift depending on market conditions. The offering coincides with a rebound in U.S. equity capital markets, where strong IPO performances from companies like Figma have encouraged private firms to gauge investor demand. Crypto IPOs such as Circle and Bullish have also drawn substantial institutional interest in recent months.
If completed, Gemini would become the third publicly traded U.S. crypto exchange, following Coinbase—this year the first crypto trading platform to join the S&P 500—and Bullish, CoinDesk’s parent company.
Expanding European Operations
Gemini is also growing its footprint in Europe. In a September 5 blog post, the company announced new products aimed at more than 400 million investors across the EU and European Economic Area.
The rollout includes staking services for Ether (ETH) and Solana (SOL), as well as Gemini Perpetuals—a regulated derivatives platform offering leveraged perpetual contracts up to 100x with no fixed expiration. Staking will operate under MiCA approval via Gemini’s Malta entity, while derivatives will follow MiFID II rules.
Mark Jennings, Gemini’s CEO for Europe, said the company’s goal is to provide a secure, user-friendly platform. Staking allows investors to earn rewards by contributing crypto to blockchain validation pools, while perpetual contracts give traders additional ways to manage risk or take market positions.
Gemini’s staking service offers flexible pools with no minimum deposits, daily reward accrual, and yields of up to 6% APR for SOL. Perpetual positions can be collateralized with assets held in spot accounts, denominated in USDC, and managed in the same interface as spot trading.
Jennings said these moves are part of Gemini’s broader strategy to make Europe a key focus. “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 remains a strategic priority for Gemini and can set the global benchmark for clear, consistent crypto rules.”
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- Market-focused: emphasizing Nasdaq investment, IPO timing, and trading impact.
- Product/te
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