Nasdaq to Invest $50M in Winklevoss Twins’ Gemini Ahead of Planned 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, giving the exchange both capital and service integration ahead of its IPO.

According to Reuters, Nasdaq will acquire $50 million worth of Gemini shares in a private placement linked to the initial public offering. The arrangement extends beyond funding: Nasdaq’s clients will gain access to Gemini’s custody and staking services, while Gemini’s institutional users will be able to utilize Nasdaq’s Calypso multi-asset trading and risk management system, including its collateral management features for margin tracking and trading activity.

Gemini aims to debut on Nasdaq under the ticker GEMI on Friday, though the timeline may shift depending on market conditions. The offering comes amid a rebound in U.S. equity capital markets, following strong first-day performances from companies like Figma, which have encouraged private firms to test investor demand. Crypto-focused IPOs, including Circle and Bullish, have also drawn significant institutional interest in recent months.

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

Expanding in Europe

Beyond U.S. listing plans, Gemini is expanding its presence in Europe. In a September 5 blog post, the company announced a suite of new products targeting 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 the launch of Gemini Perpetuals—a regulated derivatives platform offering leveraged perpetual contracts up to 100x, with no fixed expiration dates. Staking will operate under MiCA approval via Gemini’s Malta entity, while derivatives will follow MiFID II regulations.

Mark Jennings, Gemini’s CEO for Europe, said the company aims to provide a secure and user-friendly platform for staking and derivatives. Staking allows investors to earn rewards by contributing crypto to blockchain validation pools, while perpetual contracts enable professional traders to manage risk or take directional market positions.

Gemini’s staking service offers flexible pools with no minimum deposits, daily reward accruals, 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 initiatives as part of Gemini’s broader strategy to make Europe a cornerstone of its 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.”