The post Gemini Files for Nasdaq Listing Despite Heavy Losses appeared on BitcoinEthereumNews.com.

The Winklevoss twins’ crypto exchange Gemini has filed to go public on the Nasdaq stock market, following the massive success of rival exchange Bullish just days earlier. While Bullish shares jumped 83% on their first trading day, Gemini faces a different challenge – mounting losses that have more than doubled this year. Filing Details and Timeline Gemini Space Station submitted its S-1 registration statement to the Securities and Exchange Commission on August 15, 2025. The company plans to trade under the ticker symbol “GEMI” on the Nasdaq Global Select Market. Founded in 2014 by Cameron and Tyler Winklevoss, Gemini operates a regulated crypto exchange and custody service. The company also runs the Gemini Dollar stablecoin and offers a crypto rewards credit card. Major Wall Street banks are backing the deal. Goldman Sachs, Citigroup, Morgan Stanley, and Cantor Fitzgerald will lead the offering. The filing does not reveal how many shares will be sold or the expected price range. Financial Struggles Mount The S-1 filing shows Gemini’s finances are getting worse, not better. In the first half of 2025, the company lost $282.5 million while bringing in only $67.9 million in revenue. That’s a huge jump from the same period in 2024, when losses were just $41.4 million. For the full year 2024, Gemini posted a $158.5 million net loss against $142.2 million in revenue. The company’s cash position has also weakened dramatically. Cash reserves dropped from $341.5 million at the end of 2024 to $161.9 million by mid-2025. These numbers stand in sharp contrast to the booming crypto market. Bitcoin has reached record highs above $117,000, and the total crypto market cap recently topped $4 trillion. Critics suggest Gemini may be losing market share to competitors despite the overall growth. Riding the IPO Wave Gemini’s timing appears strategic. The crypto…

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Filed under: News - @ August 16, 2025 11:28 pm