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Another crypto company is headed for the public markets. This time, it\u2019s Gemini Space Station Inc., the New York-based crypto exchange and custodian bank founded by billionaire twins Cameron and Tyler Winklevoss.<\/p>\n
The outfit, which plans to list on the Nasdaq Global Select Market under the symbol GEMI, was founded in 2014 and operates as an exchange and custodian that offers a number of products and services, including a U.S. dollar-backed stablecoin and a credit card that offers rewards in crypto.<\/p>\n
The company\u2019s S-1 document<\/a>, which was filed Friday after markets closed, provides a look at its finances. The upshot: Gemini appears to have widening net losses. The company reported a net loss of $158.5 million on $142.2 million in revenue in 2024. Net losses in the first six months of 2025 havw already exceeded that number. Gemini reported a net loss of $282.5 million on $67.9 million in revenue in the six months ending June 30.<\/p>\n Gemini is the latest crypto company to turn to the public markets as the regulatory environment has eased and the Trump administration has embraced digital currencies and other crypto assets. <\/p>\n In June, Circle Internet Group raised $1.2 billion in an IPO. The company, one of the world\u2019s largest issuers of USDC, a stablecoin pegged to the U.S. dollar, had a blockbuster debut <\/a>with its stock trading 168% above its IPO price of $31 set the previous day.<\/p>\n On Monday, despite higher revenue than a year earlier, Circle reported a quarterly loss<\/a> due to one-time costs associated with that June public offering.<\/p>\n Earlier this month, crypto exchange Bullish, which also owns media outlet CoinDesk, raised $1.1 billion in its IPO. Bullish, led by former president of the NYSE Tom Farley, saw its shares more than double from its $37 IPO price to peak at $118.<\/p>\n Techcrunch event<\/p>\n