.png "Crypto exchange Gemini has filed for a US IPO despite steep losses. Backed by the Winklevoss twins, the move signals a bold bet on mainstream adoption and growing investor interest in digital assets.")
Crypto exchange Gemini has filed for a US IPO despite steep losses. Backed by the Winklevoss twins, the move signals a bold bet on mainstream adoption and growing investor interest in digital assets.
I’m Aadi, an MBA who’s just as comfortable crunching numbers as pitching startup ideas. I’ve seen fundraises that made headlines but didn’t mean much. If a company like Gemini filing for an IPO actually matters I want to figure that out together.
Summary:
Curious why a crypto exchange with mounting losses is suddenly knocking on Wall Street’s door This is your shortcut to why that move might shake up more than the price of Bitcoin.
1. Gemini aims to list on Nasdaq under the symbol GEMI after raising its S-1 filing stroke public on August 15 2025.
2. In 2024 it lost around 158.5 million on revenue of 142.2 million and the first half of 2025 saw losses surge to about 282.5 million while revenue dropped to under 70 million.
3. The exchange runs in over 60 countries supports more than 70 cryptocurrencies and has custody and credit card offerings.
I’ll be real with you I wasn’t expecting a crypto IPO to feel…strategic in this market But here we are.
Think about it. A firm losing hundreds of millions is still stepping into the glare of public markets. That tells me they believe there’s more to their story than volatile trading fees and buzzwords.
What caught my attention is how their setup isn’t typical. Gemini is not just a trading venue. They are a custodian and they offer a crypto reward credit card. Imagine using crypto to pay and get rewarded in crypto That feels like the kind of product mainstream finance might actually nod at not recoil from.
And then there is the IPO timing. After some big names like Circle and Bullish made splashy entries public right before this, Gemini making its move says they sense momentum not just in crypto tokens but in actual investor interest. It’s like catching a wave before it crests.
I also can’t stop thinking about credibility. For years the Winklevoss twins were comic relief in Silicon Valley lore now they’re centering crypto’s financial infrastructure. Going public might be their way of turning legitimacy into balance sheet muscle.
If that resonates then here’s where it leaves us.
5 Do’s and Don’ts for Business Students Founders and Traders:
1. Do look beyond the loss headline and consider the business mix and built-in services.
2. Do pay attention to how legacy finance features are being wrapped in crypto contexts that work for everyday users.
3. Do notice the timing of moves. Riding sector momentum can matter more than sector buzz.
4. Don’t assume a company filing for IPO means they’re desperate Take a look at what else they’re offering or building.
5. Don’t ignore the players behind the scenes. Reputation and past positioning still carry weight in finance and regulation.