Winklevoss Twins’ Crypto Company Gemini Files For Ipo

Another crypto institution is headed for nan nationalist markets. This time, it’s Gemini Space Station Inc., nan New York-based crypto speech and custodian slope founded by billionaire twins Cameron and Tyler Winklevoss.

The outfit, which plans to database connected nan Nasdaq Global Select Market nether nan awesome GEMI, was founded successful 2014 and operates arsenic an speech and custodian that offers a number of products and services, including a U.S. dollar-backed stablecoin and a in installments paper that offers rewards successful crypto.

The company’s S-1 document, which was revenge Friday aft markets closed, provides a look astatine its finances. The upshot: Gemini appears to person widening nett losses. The institution reported a nett nonaccomplishment of $158.5 cardinal connected $142.2 cardinal successful gross successful 2024. Net losses successful nan first six months of 2025 havw already exceeded that number. Gemini reported a nett nonaccomplishment of $282.5 cardinal connected $67.9 cardinal successful gross successful nan six months ending June 30.

On Monday, contempt higher gross than a twelvemonth earlier, Circle reported a quarterly loss owed to one-time costs associated pinch that June nationalist offering.

Earlier this month, crypto speech Bullish, which besides owns media outlet CoinDesk, raised $1.1 cardinal successful its IPO. Bullish, led by erstwhile president of nan NYSE Tom Farley, saw its shares much than double from its $37 IPO value to highest astatine $118.