AsianFin – Cryptocurrency firm Gemini Space Station, founded by billionaire twins Cameron and Tyler Winklevoss, has raised $425 million in its initial public offering, pricing shares above the marketed range, a source familiar with the matter said on Thursday.

The company sold roughly 15.2 million shares at $28 each, after marketing them for between $24 and $26, according to the source, who declined to be identified ahead of an official announcement.

The strong demand signals continued investor appetite for cryptocurrency-related stocks despite market volatility and heightened regulatory scrutiny. Proceeds from the offering are expected to fund Gemini’s expansion into international markets and new digital asset products, the source added.