Gemini IPO Aims for $317M as Trump Media Wagers $1B on Crypto.com Treasury Approach
Gemini Space Station Inc., the cryptocurrency trading network established by Cameron and Tyler Winklevoss, has submitted a request for a $316.7M initial public offering (IPO) in New York. Social media has labeled it the “Gemini IPO” and the firm aims to issue 16.7 million shares priced between $17 and $19 each, which would value Gemini at approximately $2.2Bn if priced at the higher end.
Gemini manages assets exceeding $18Bn and digital currency assets, based on its filing. However, the company continues to incur losses, reporting a $282.5M net rekt against $68.6M in revenue during the first half of 2025.
“We are confident that the U.S. trading market is finally poised for compliant and regulated crypto institutions,” the Winklevoss twins stated in their SEC submission.
Fidelity is now accepting expressions of interest for the Gemini IPO. $GEMI pic.twitter.com/E18FbD0pA3
— Craig Stephens | Access IPOs (@AccessIPOs) September 2, 2025
The IPO will be backed by Goldman Sachs and Citigroup, with Gemini listing on Nasdaq under the ticker GEMI. Meanwhile, Trump is overlooking Gemini as he channels all his assets to Crypto.com (CRONOS).
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Trump Media and Crypto.com Make Big Moves with Cronos: Why Won’t He Engage with Gemini?
Donald Trump’s media enterprise is delving deeper into the crypto asset realm. Trump Media & Technology Group (DJT) has sealed a deal with Crypto.com to establish a new treasury endeavor centered around Cronos (CRO).
The company will combine with Yorkville Acquisition Corp and go public under the ticker MCGA. Trump Media will secure its corporate holdings with $1Bn in CRO tokens, supported by $200M in cash, $220M in warrants, and a $5Bn equity line of credit from Yorkville associates. Trump is essentially managing the nation like a crypto mafia leader at this juncture.
This maneuver propelled CRO by +29.6% to $0.20, according to CoinGecko, while Yorkville’s shares fell -2.2% to $10.42.
“By grounding Truth Social’s rewards system and corporate reserves in CRO, Trump Media is essentially institutionalizing the crypto token,” remarked Alice Liu, head of research at CoinMarketCap.
Trump Media stocks also climbed +6.6% to $18.36, following the news.
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The Trump-Cronos initiative parallels Michael Saylor’s approach at MicroStrategy, which has effectively reshaped a software firm into a BTC reserve now holding nearly $100Bn. Investors have shown their price floor, driving MSTR shares up fivefold alongside Bitcoin’s surge in 2024.
Corporations are exploring similar avenues with digitized reserves. Circle went public in June with a $1.2Bn IPO, its stock surging +168% on the first trading day.
Additionally, the SoftBank- and Tether-backed SPAC initiated a $3.6Bn BTC treasury venture earlier this year.
Can Gemini and Trump Media Succeed in a Competitive Landscape?
For Gemini, the IPO presents an opportunity to regain trust following previous regulatory challenges, including a withdrawn SEC case and a $5M CFTC settlement earlier this year. As for Trump, it’s simply business as usual. Everything he gets involved in turns to success because he’s the freaking president.
Crypto.com represents his latest undertaking, and we’ll observe what else Trump promotes (and hopefully doesn’t abandon like WLFI coin) by the end of the year.
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Key Takeaways
- Gemini looks for a $317M IPO as Trump Media unveils a $1B Cronos treasury venture.
- Crypto.com is the latest venture Trump has promoted, and we’ll see what else he highlights by year’s end, and hopefully doesn’t discard like WLFI crypto token.
The post Gemini IPO Targets $317M as Trump Media Bets $1B on Crypto.com Treasury Strategy appeared first on 99Bitcoins.
