Cryptocurrency exchange Gemini is preparing for an initial public offering (IPO), aiming to raise $2.2 billion at a valuation of approximately $17-19 per share. The company plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “GEMI”. Goldman Sachs & Citigroup will act as lead bookrunners for the IPO, while Morgan Stanley and Cantor will serve as co-lead bookrunners. Other firms participating in the offering include Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, Needham & Company, and Rosenblatt. Academy Securities, AmeriVet Securities, and Roberts & Ryan will act as co-managers for the IPO. In addition to the initial offering, underwriters have a 30-day option to purchase up to an additional 2,396,348 shares of Class A common stock and 103,652 shares, respectively, to cover over-allotments. Gemini is currently ranked 24th in terms of popularity among cryptocurrency exchanges according to CoinMarketCap data. With a liquidity score of 711 and support for 142 trading pairs, the exchange boasts 78 cryptocurrencies listed and offers trading functionality in seven leading fiat currencies such as USD, AUD, CAD, EUR, GBP, SGD and HKD.