Sept 11 (Reuters) -

Cryptocurrency firm Gemini Space Station raised $425 million

in an initial public offering on Thursday, pricing its stock

above a marketed range.

The company led by the billionaire twins Tyler and Cameron

Winklevoss sold around 15.2 million shares for $28 apiece, after

marketing them for $24 to $26, it said in a statement,

confirming an earlier report by Reuters.

The IPO values Gemini at $3.33 billion on a non-diluted

basis, according to a Reuters calculation.

The price range was lifted earlier this week from $17 to

$19, underscoring robust investor demand.

New York City-based Gemini had capped IPO proceeds at $425

million, in a rare move, even as the offering drew orders more

than 20 times the shares available, Reuters reported earlier in

the day.

Record high prices for digital assets and regulatory wins

have transformed the once beleaguered sector into an anchor for

the IPO market, which has resumed a long-awaited recovery this

fall after U.S. tariffs delayed listing plans in April.

Nasdaq had committed to a $50 million investment in

a private placement at the time of the IPO. Reuters was the

first to report on the investment.

Gemini will begin trading on Nasdaq on Friday under the

ticker "GEMI".

Crypto listings are gathering momentum. Stablecoin issuer

Figure Technology raised $787.5 million in an upsized U.S. IPO

on Wednesday. Earlier this year, CoinDesk owner Bullish

and stablecoin issuer Circle both enlarged their

offerings.

The Securities and Exchange Commission under President

Donald Trump has eased oversight of the crypto sector, which has

frequently seen ventures from entities connected to him and his

family.

Gemini has benefited as well, with the Winklevoss twins

moving closer in April to resolving an SEC lawsuit claiming they

failed to register a cryptocurrency asset lending program before

offering it to retail investors.

The case has not been resolved. A status report from both

sides is due by September 15.

In another display of the sector's proximity to Washington,

Trump's Commodity Futures Trading Commission nominee accused

Tyler Winklevoss on Wednesday of lobbying the White House to

stall his nomination after a text exchange.