In brief
- Gemini debuts on Nasdaq with $4.4B valuation, shares up 22.6% amid regulatory drama with CFTC nominee.
- Figure launches public trading at $5.3B valuation as crypto lending meets capital markets.
- Tokenization gains momentum with BlackRock eyeing ETF tokenization and Nasdaq proposing tokenized stock trading.
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies.
Gemini’s IPO Pop
Crypto exchange Gemini hit a $4.4 billion valuation on its Nasdaq debut Friday. At the time of writing, the company’s shares—which trade under the GEMI ticker symbol—are hovering around $34. That’s a 22.6% gain from when the stock began trading.
Gemini was founded in 2014 and granted a BitLicense by the New York State Department of Financial Services the following year. The company raised $425 million through its IPO, according to Decrypt calculations based on regulatory filings.
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Author: Stacy Elliott
