Winklevoss Twins’ Crypto Company Gemini Files for IPO

Another encryption company is heading to public markets. This time, it’s Gemini Space Station Inc. It is the New York -based Cafer and Guard Bank, which was founded by the billionaire Cameron and Tyler Winklevoss.

The costume, which is planned to be included in the Nasdaq Global Select market under the GEMI, was established in 2014 and works as an stock market and maintenance that provides a number of products and services, including the US dollar -backed Stablecooin and a credit card that provides bonuses in encryption.

Company S-1 documentWhich was presented on Friday after the closure of the markets, provides a look at its financial resources. The result: Gemini appears to have widening net losses. The company announced a net loss of 158.5 million dollars at $ 142.2 million of revenues in 2024. The net losses in the first six months of 2025 HVW have already exceeded this number. GEMINI recorded a net loss of $ 282.5 million at $ 67.9 million of revenue in the six months ending June 30.

Gemini is the latest encryption company heading to public markets with a decline in the organizational environment and the Trump administration adopted digital currencies and other encryption assets.

In June, Circle Group raised $ 1.2 billion in public subscription. The company, one of the largest exporters in the world in USDC, is Stablecoin linked to the US dollar, For the first time wonderful With shares trading by 168 % higher than the public subscription price of $ 31 the day before.

On Monday, despite the increase in revenues from the previous year, Serkel A reported The quarterly loss Because of the one -time costs associated with the occasion of general in June.

Earlier this month, Crypto Exchange Bullish, which also owns Coindsk media, raised $ 1.1 billion in public subscription. Bullish, led by the former president of Nyse Tom Farley, has witnessed more than twice the price of the public subscription of $ 37 to the peak at $ 118.