Gemini files of the Winklevos Twins cryptographic company for IPO

Another cryptographic company is directed to public markets. This time, it is Gemini Space Station Inc., the Crypto Exchange and custody bank based in New York founded by the multimillionaires twins Cameron and Tyler Winklevos.

The outfit, which plans to list in the Nasdaq Global Select market under the GEMI symbol, was founded in 2014 and operates as an exchange and custodian that offers a series of products and services, including a stablecoin backed by the US dollar and a credit card that offers crypto rewards.

The company S-1 documentThat was presented on Friday after the markets closed, provides a look at their finances. The result: Gemini seems to have broad net losses. The company reported a net loss of $ 158.5 million at $ 142.2 million in revenues in 2024. Net losses in the first six months of 2025 HAVW have already exceeded that number. Gemini reported a net loss of $ 282.5 million at $ 67.9 million in revenues in the six months ending June 30.

Gemini is the last cryptographic company in resorting to public markets, since the regulatory environment has decreased and the Trump administration has adopted digital coins and other cryptographic assets.

In June, Circle Internet Group raised $ 1.2 billion in an opi. The company, one of the world’s largest USDC issuers, a stamping linked to the US dollar, had a debut in the great success with its shares that quote 168% above its OPI price of $ 31 established the previous day.

On Monday, despite the highest income than a year earlier, Circle reported a quarterly loss Due to the unique costs associated with that June public offer.

Earlier this month, Crypto Exchange Bullish, who is also owner of Media Outlet Coindesk, raised $ 1.1 billion in his opi. Bullish, led by former Nyse president Tom Farley, saw his shares more than double its IPO price of $ 37 to a maximum point at $ 118.