Cryptocurrency exchange Gemini has set its initial public offering (IPO) price at $28 per share, successfully raising $425 million and achieving a valuation of approximately $3.3 billion. The IPO involves the issuance of 15.2 million shares, which were oversubscribed by 20 times. Trading is set to commence today on the Nasdaq under the ticker symbol GEMI. Nasdaq's parent company, NDAQ, has committed to purchasing $50 million worth of shares at the IPO price. The offering is underwritten by major financial institutions including Goldman Sachs, Citigroup, Morgan Stanley, and Cantor.