Web3 IPOs remain hot with Gemini’s '20X oversubscribed,' Figure debut jumping 24%
Analysis
Price Impact
HighThe news highlights strong investor interest in web3 ipos, with gemini's ipo being oversubscribed and figure's shares jumping significantly on their debut. this indicates a positive market sentiment towards crypto and blockchain companies.
Trustworthiness
HighThe information is based on reports from reuters and yahoo finance, which are reputable sources for financial news. the article also cites specific figures and details about the ipos.
Price Direction
BullishThe oversubscription of gemini's ipo and the positive performance of figure's shares suggest a bullish trend for crypto-related companies going public. the involvement of nasdaq as an investor further strengthens this outlook.
Time Effect
ShortThe immediate impact is short-term, as the ipos have already occurred. however, the long-term effect could be positive for the overall crypto market as it signals growing institutional and retail investor confidence.
Original Article:
Article Content:
Christopher Tepedino 3 minutes ago Web3 IPOs remain hot with Gemini’s '20X oversubscribed,' Figure debut jumping 24% The crypto exchange capped proceeds at $425 million after reportedly halting new orders, with Nasdaq among its investors. 29 News COINTELEGRAPH IN YOUR SOCIAL FEED Gemini’s upcoming initial public offering (IPO), expected Friday, has reportedly been oversubscribed more than 20 times, as crypto and blockchain companies continue to attract investor attention. According to Reuters on Thursday, citing people familiar with the matter, Gemini and its bankers stopped accepting new orders for shares on Thursday, ahead of the crypto exchange’s debut. The move, called “unusual” in an IPO, reportedly capped proceeds at $425 million. Gemini had initially upped its raise to $433 million , with its prospective listing share price ranging between $24 and $26, from $17 to $19 floor price. Among its investors is the technology stock exchange Nasdaq, which is reportedly purchasing $50 million in shares as part of a strategic partnership. In another public listing, shares of Figure Technologies debuted on Nasdaq Thursday, with its shares jumping 24.4% in the first trading day. Figure share price on debut. Source: Yahoo Finance Figure, a blockchain-based marketplace for financial products, had revised its list price multiple times as demand grew for its IPO, with bids from investors raising the share price to $25 from $18. The offer ultimately raised $787.5 million. Related: Crypto execs team up for $200M Bitcoin Infrastructure Acquisition SPAC Other crypto IPOs in 2025 While Figure’s IPO was successful, it didn’t match investors’ hunger for stablecoin issuer Circle and cryptocurrency exchange Bullish. Circle had boosted its IPO to raise $1 billion and saw its stock increase 167% on the first day of trading . Bullish’s share price soared as high as 218% on the first trading day. Crypto exchange-traded fund (ETF) issuer Bitwise previously predicted that 2025 would be the year of the crypto IPO . Candidates on its list to go public includes crypto exchange Kraken, crypto bank Anchorage Digital, and blockchain analytics company Chainalysis. Magazine: Altcoin season 2025 is almost here… but the rules have changed # Business # Nasdaq # Gemini # IPO Add reaction