- Gemini files for Nasdaq listing under GEMI, expanding public crypto offerings.
- The company reports $282.5M net loss in H1 2025 on $67.9M revenue.
- IPO follows successful public debuts of Circle and Bullish, reflecting investor appetite for crypto stocks.
New York-based crypto exchange and custodian bank Gemini Space Station Inc. is gearing up for a Nasdaq listing under the ticker GEMI. Founded in 2014 by billionaire twins Cameron and Tyler Winklevoss, Gemini offers a suite of services including a U.S. dollar-backed stablecoin and a crypto rewards credit card. The company’s IPO filing signals another major crypto player entering public markets amid a more favorable regulatory climate.
Financials Highlight Growing Losses
Gemini’s S-1 filing, released Friday after markets closed, shows widening net losses. In 2024, the company reported a $158.5 million net loss on $142.2 million in revenue. That trend accelerated in the first half of 2025, with losses surging to $282.5 million on $67.9 million in revenue for the six months ending June 30. The figures suggest significant investments in expansion or operational costs, underscoring the challenges crypto firms face even amid rising adoption.
Public Market Trends in Crypto
Gemini’s move mirrors recent crypto IPO activity. In June, Circle Internet Group raised $1.2 billion, with its shares trading 168% above the IPO price on debut. Circle, a major USDC issuer, still posted a quarterly loss due to one-time IPO-related costs. Earlier this month, Bullish, the crypto exchange and media company, raised $1.1 billion in its IPO, with shares peaking at $118, more than triple the $37 IPO price. These successes suggest investor appetite for crypto stocks remains robust despite underlying losses.
Regulatory Environment Fuels Growth
The public push by Gemini and others reflects easing regulations and growing acceptance of digital assets. Under the Trump administration, policies have favored broader crypto adoption, encouraging exchanges and custodians to seek public capital to fund expansion and innovation.
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Gemini’s Nasdaq debut will be closely watched by investors seeking exposure to the crypto sector. While rising losses raise caution, the company’s diverse offerings and strong brand recognition position it as a potential growth story in the increasingly mainstream digital asset market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
