crypto Firms Surge in IPOs, With Gemini Leading Charge
Recently, crypto businesses have taken the IPO scene by storm.
Bullish’s entry into the market made it just the second这类平台在美国公开交易, following Coinbase. Gemini aims to be next in line.
Gemini quietly submitted its IPO documents in June, planning to start trading on Nasdaq as “GEMI.”
Despite the ambitious plans, Gemini faces challenges. revenue dipped and losses grew larger in early 2025, according to Reuters. For the six months ending June, the net loss hit $282.5 million with revenue at $68.6 million. This contrasts sharply with a $41.4 million loss and $74.3 million revenue from the same period in 2024.
The size of the IPO was not disclosed. The funds raised will go towards day-to-day operations and debt payments.
Gemini specializes in stablecoins, digital tokens pegged to the-US-dollar value. The Gemini Dollar (GUSD) is one of its offerings, remaining consistent with the US dollar value.
Started in 2014 by wealthy twin brothers Tyler and Cameron Winklevoss, Gemini supports over 70 cryptocurrencies in more than 60 countries.
Expanding its reach further, the company introduced 14 new tokenized U.S. stocks for European traders in june. This move enables round-the-clock trading of popular equities like Nike and McDonald’s.
Each asset is fully backed by actual stocks and operates using the Ethereum Arbitrum network.
