Gemini’s IPO set for Friday has been oversubscribed more than 20 times, with share orders capped at $425 million. Nasdaq is investing $50 million in shares. Figure Technologies debuted on Nasdaq, with shares rising 24.4% on the first trading day, raising $787.5 million. Other successful crypto IPOs include Circle and Bullish.

Bitwise predicts 2025 as the year of the crypto IPO, with potential candidates like Kraken, Anchorage Digital, and Chainalysis. Altcoin season 2025 is approaching, but the rules have shifted.

Read more at Cointelegraph: Web3 IPOs Remain Hot as Gemini Oversubscribed, Figure up 24%