Quick Takeaways
- Does Gemini file for an IPO? Yes, in spite of an early 2025 loss of $282.5 million.
- The name “gemi” is planned to use the Cryptocurrency Exchange on NASDAQ.
- Money from IPO will be used for business expansion and loan repayment.
Gemini Files IPO? Here’s Why They’re Going Public Anyway
Gemini files IPO? That’s the big question everyone’s asking, and the answer is yes, even though the crypto exchange is losing money.
Founded by Tyler and Cameron Winklevoss, Gemini just revealed its U.S. IPO filing. And while the timing might surprise some, the move comes with a clear strategy: raise money, clean up the balance sheet, and bet on the future of crypto.
Let’s talk numbers. In the first half of 2025, Gemini generated $ 68.6 million in revenue, but ended with a net loss of $ 282.5 million. Compare that to the same time last year $74.3 million in revenue and a much smaller loss of $41.4 million, and you’ll see how steep the drop-off was.
Still, Gemini seems determined. They intend to utilize the IPO funds to pay off third-party debt and maintain daily operations, providing them some leeway as they negotiate the cutthroat cryptocurrency market.
Gemini Files IPO? Set to Join Coinbase and Bullish
So why now? Why push forward when the books are in the red?
Gemini is now positioned to become the third cryptocurrency exchange in the United States after registering for an IPO. to go public, right behind Coinbase (COIN.O) and Bullish (BLSH.N), which just had a strong debut two days ago.
Gemini plans to list on the Nasdaq under the ticker symbol “GEMI.” The IPO will be managed by Goldman Sachs and Citigroup, which says a lot about the kind of investors they’re aiming to attract.
Gemini’s strategy is more controlled than that of certain other exchanges that solely concentrate on trading.
The Gemini Dollar (GUSD), their own stablecoin that is based on the US dollar, is one of the more than 70 cryptocurrencies they support and operate in.
Why This Could Actually Be the Right Time
The numbers don’t tell the whole story. The crypto industry has come a long way from being dismissed as a fad to now rubbing shoulders with Wall Street.
One big reason Gemini might be feeling confident right now is the regulatory boost they’re getting. With the signing of the GENIUS Act last month, the U.S. its first real legal framework for stablecoins.
That’s huge for companies like Gemini that already operate in that space. Meanwhile, more conventional investors are becoming involved with cryptocurrency. As stated by Zumo’s founder, Nick Jones:
“We’ve moved beyond the hype. Now it’s about regulation, real clients, and long-term potential.”
And it’s not just talk, companies like Coinbase and Block (XYZ.N) have recently been added to the S&P 500, showing that crypto is becoming part of the mainstream financial system.
How Gemini Stands Out in a Crowded Crypto World
Now, going public is one thing; standing out is another. The crucial query for investors, according to CIO Michael Ashley Shulman of Running Point Capital, is:
“What does Gemini do that Coinbase can’t just copy by Tuesday?”
Gemini’s answer? Focus on security, custody, and compliance. Instead of chasing short-term trading spikes, they’ve built a platform with long-term trust in mind.
And in today’s crypto world, where regulations matter more than ever, that could be their biggest strength.
With the IPO Market Heating Up, Timing Could Be on Gemini’s Side
After a slow start to 2025, IPO activity is picking up again. Investors seem more willing to take risks, especially on tech and crypto firms that show promise, even if their finances aren’t perfect.
Gemini filed confidentially back in June, which suggests they’ve been planning this move for a while. Now, with the window wide open, they’re ready to make their pitch to the public.
