Gemini Space Station successfully raised $425 million in its Nasdaq IPO on September 12, 2025, pricing shares at $28 each. The IPO has increased the Winklevoss twins' net worth by approximately $300 million. Evercore ISI has issued a buy recommendation for Gemini shares, citing heightened institutional interest and the potential for Gemini to rival Coinbase in the regulated crypto exchange market. The IPO is drawing comparisons to Coinbase's public listing, with analysts viewing it as a positive indicator for the broader crypto exchange sector. The move underscores growing confidence in regulated crypto platforms and their appeal to institutional investors.