Winklevoss Twins’ Gemini Said to Limit IPO Size to $425 Million

Gemini Space Station Inc. is telling investors it expects to cap the base size of its initial public offering at $425 million ahead of pricing later on Thursday, according to people familiar with the matter.

The IPO of the cryptocurrency exchange backed by the billionaire Winklevoss twins is more than 20 times oversubscribed, the people said, asking not to be identified as the information isn’t public. The company is offering 16.7 million shares, according to an earlier filing with the US Securities and Exchange Commission.

The deal is expected to price at the top of the $24 to $26 per ...