Gemini Space Station, The Crypto Exchange and goalkeeper founded by Cameron and Tyler Winklevoss, filed with Securities and Exchange American Commission to include its ordinary class A actions on the world Nasdaq market under the Ticker Gemi.
Founded in 2014, GEMINI operates a regulated crypto exchange, a daycare service and a range of blockchain-based products, including Stablecoin Gomeni Dollar (GUSD) supported by the US dollar and a cryptocurrency credit card, said the platform in the file submitted on Friday.
According to his file, the IPO will mark the first time that his shares are listed on the stock market, the prices expected between an unknown range. The offer will be directed by a union of large banks, notably Goldman Sachs, Morgan Stanley, Citigroup and others.
After the offer, Gemini will have a double -class actions structure, including class A shares carrying a vote by action and class B shares carrying ten votes. The TWINS WINKLEVOSS will keep all class B shares, guaranteeing the majority control of the vote and the qualifying Gemini as a “controlled company” under the rules of the NASDAQ.
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Gemini faces growing losses
Despite the Haussier framing, the S-1 reveals an enlargement of net losses. In 2024, Gemini recorded $ 142.2 million in revenue against a net loss of $ 158.5 million. This deficit has already deepened in 2025, with losses in the first half of 2025, reaching $ 282.5 million out of $ 67.9 million in income.
The liquidity of the company has also tightened. The cash and cash equivalents amounted to $ 341.5 million at the end of 2024, but fell to $ 161.9 million by mid-2010, reflecting the pressure of sustained losses and operational costs.
In particular, Cameron and Tyler Winklevoss supported Trump’s re -election offer and supported the crypto political action committees.
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The Trump era increases the optimism of the cryptography market
The Gemini decision comes in the midst of a changing regulatory climate. The Trump administration adopting a more pro-Crypto position, American digital asset companies find a renewed appetite in the capital markets.
In June, the Internet Circle Circle Circle group organized a successful IPO, increasing $ 1.1 billion and closing its first day 167% higher than its $ 31 emission price.
As indicated, Crypto Exchange Bullish also made its debut on the public market, its shares that increased by 83.8% on the first day to close to $ 68, giving the company a market capitalization of more than $ 10 billion. The action opened its doors at $ 90, briefly reached $ 118, more than 215% above its $ 37 Introduction Prize, before retreating.
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