- Gemini filed for Nasdaq IPO under ticker GEMI.
- Reported a net loss of $282.5 million in the first half of 2025.
- Plans for capital expansion and further institutionalization of crypto markets.
- Underwritten by Goldman Sachs and Citigroup.
- Regulatory changes supporting market growth.
- Asset custody between $12-18 billion.
Gemini, founded by Tyler and Cameron Winklevoss, filed for a Nasdaq IPO under the ticker GEMI, despite reporting financial losses for the first half of 2025.
The IPO signifies Gemini’s push for capital growth and market trust, aligning with increased regulatory clarity and institutional investment interest in crypto exchanges.
Gemini, led by the Winklevoss twins, has officially filed for a Nasdaq IPO under the ticker GEMI. Despite the move, the company reported a net loss of $282.5 million in the first half of 2025. “The S-1 emphasizes Gemini’s intent to use the IPO for capital expansion and further institutionalization of crypto markets,” said Tyler Winklevoss, CEO of Gemini. This strategic move is set against a backdrop of major losses, positioning Gemini for a stronger future in the crypto market space.
Founded by Tyler and Cameron Winklevoss, Gemini aims to utilize the IPO for capital expansion. They plan to further institutionalize crypto markets, leveraging their long history in the industry. Both founders maintain major shareholder roles.
Gemini’s financial disclosure coincides with increasing prices for major digital assets like BTC and ETH. The market interest remains focused on compliance-driven crypto exchanges, challenging Circle’s prior IPO results. The filing is underwritten by prominent banks such as Goldman Sachs and Citigroup, signaling a commitment from Wall Street. This aligns with Gemini’s push for more institutional investors, despite its recent financial challenges.
Regulatory Support and Institutional Confidence
Regulatory changes in the U.S. and a supportive legislative environment have facilitated Gemini’s market entry. Institutional confidence in crypto assets is rising, as seen in Gemini’s custody of assets valued between $12–18 billion. Historical IPO trends such as Circle and Bullish highlight potential for robust investor appetite. However, Gemini’s losses and staking activities in its Earn program need strategic adjustments to meet compliance and profit targets.
