Gemini Files for Nasdaq Listing Amid Growing Losses
- Gemini has filed with the SEC to list its Class A common stock on Nasdaq under the ticker GEMI.
- The IPO will be led by major banks including Goldman Sachs and Morgan Stanley, marking Gemini’s first public offering.
- In its latest financials, Gemini reported $142.2 million in revenue but a net loss of $158.5 million in the previous year.
- Losses deepened in the first half of this year, reaching $282.5 million against $67.9 million in revenue.
- The Winklevoss twins will maintain majority control through Class B shares, ensuring Gemini qualifies as a “controlled company.”
Gemini’s filing comes at a time when US digital asset firms are experiencing increased interest from capital markets, partly due to a more favorable regulatory environment under the Trump administration.
Despite its efforts to go public, Gemini faces significant financial challenges, with losses exceeding $282 million so far this year compared to just $67 million in revenue.(Source)
