Gemini Crypto Exchange to Receive $50M from Nasdaq, Reports Reuters

Nasdaq to Invest $50M in Winklevoss Twins’ Gemini Ahead of IPO: Reuters

Nasdaq is set 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 investment comes as Gemini prepares for a Nasdaq listing, providing both capital and service integration ahead of its initial public offering.

The private placement, linked to the IPO, will give Nasdaq access to Gemini’s custody and staking services. Meanwhile, Gemini’s institutional clients will gain access to Nasdaq’s Calypso system, a multi-asset trading and risk management platform, including its collateral management tools for margin tracking and trading activity.

Gemini aims to debut on Nasdaq under the ticker GEMI on Friday, though the timeline could shift depending on market conditions. The offering comes amid a rebound in U.S. equity capital markets, with strong IPO performances from companies like Figma encouraging private firms to test investor demand. Crypto-focused IPOs, including Circle and Bullish, have also attracted notable institutional interest recently.

If completed, Gemini would become the third publicly traded U.S. crypto exchange, joining Coinbase—this year the first crypto platform to enter the S&P 500—and Bullish, CoinDesk’s parent company.

Expanding in Europe

Gemini is also growing its European footprint. In a September 5 blog post, the company announced new products for over 400 million investors across the EU and European Economic Area.

The launch includes staking services for Ether (ETH) and Solana (SOL), along with 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 follow MiFID II regulations.

Mark Jennings, Gemini’s CEO for Europe, emphasized the goal of providing a secure, user-friendly platform for both staking and derivatives. Staking allows investors to earn rewards by contributing crypto to blockchain validation pools, while perpetual contracts give traders more tools 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 in spot accounts, denominated in USDC, and managed within the same interface as spot trading.

Jennings framed these moves as part of Gemini’s broader European strategy. “MiCA gives the EU a chance to lead globally on crypto regulation, setting standards across 30 jurisdictions and boosting investor confidence,” he said. “Europe remains a strategic focus for Gemini and can set the global benchmark for clear, consistent crypto rules.”