Losses mount, Winklevii bet on public markets

Cryptocurrency companies have increasingly dominated the landscape of the IPO in recent months, with a circle of stablecoin transmitter and exchange the titles of the upward input. Bullish’s beginnings made that on Wednesday only the second crypto exchange listed in the United States, after Coinbase Global.

Gemini wants to be the next one.

Gemini’s IPO is delivered with heavy losses attached

The company deposited confidentially in June and plans to exchange the Nasdaq under the Ticker “Gemi”.

Gemini, who hired Goldman Sachs and Citigroup to direct the subscription, recently revealed in his American stock exchange file that the income has dropped and that losses were deepened in the first half of 2025, reports Reuters.

The deposit, published on Friday, left the size of the offer in white – perhaps the only Gemini number is happy not to put on the channel. The net loss reached $ 282.5 million out of $ 68.6 million in income for the six months closed on June 30. Compare this to the loss of $ 41.4 million in the company out of $ 74.3 million a year earlier.

The product of the list will be used for general operations and the reimbursement of the debt, said Gemini. The company also emits and supports several stablecoins, a corner of crypto freshly highlighted after the adoption last month of the law on engineering, which Defines a federal framework For tokens pointed out in dollars.

Gemini himself experiences the Dollar Gemini (GUSD), which is designed to stay fixed at 1 to 1 with the US dollar.

Gemini is not exclusive to the United States

Founded in 2014 by billionaires Tyler and Cameron Winklevoss, Gemini now supports more than 70 cryptocurrencies in more than 60 countries.

The company also doubles Token stocks in EuropeDeploying 14 new American actions – from Nike and McDonald’s to Uber and Adobe – which can be exchanged 24 hours a day.

This decision is based on its beginnings in June in token shares for EU customers, expanding access to the consumer, travel and software sectors. Each asset is supported 1: 1 by real actions and issued on Ethereum (Ethn) Network network.