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IPO of Winklevoss-founded crypto exchange Gemini over 20 times oversubscribed, sources say
Gemini Space Station, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has drawn over 20 times as many orders for its planned U.S. initial public offering as there are available shares, people familiar with the matter said on Thursday. The strong demand, ahead of the IPO's pricing later on Thursday, shows investors' huge appetite for crypto company listings. Gemini and its bankers have stopped taking new orders for shares and, in an unusual move, the IPO proceeds will be capped at $425 million, the sources said. Any further price increase will instead reduce the number of shares sold, the people ... (full story)
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