Gemini Cryptocurrency Exchange Files for IPO Amid Rising Number of Crypto Firms Seeking Public Market Listing
As the number of cryptocurrency companies seeking to go public continues to rise, the Gemini cryptocurrency exchange, led by billionaire Winklevoss twins, has filed for an initial public offering (IPO). The stock ticker will be GEMI.
Founded in 2014, the established cryptocurrency exchange Gemini currently has assets on its platform exceeding $18 billion.
Gemini’s total revenue primarily comes from fees earned on trading volume from retail and institutional users. For the fiscal year ending December 31, 2024, trading revenue accounted for 69.7% of total revenue, which was $142.2 million, with a net loss of $158.5 million. In the first half of 2025, ending June 30, trading revenue represented 65.5% of total revenue, which was $686.1 billion, with a net loss of $282.5 million.
Company Leadership and Offerings
Gemini is led by President Cameron Winklevoss and CEO Tyler Winklevoss. The company offers a cryptocurrency exchange, a dollar-backed stablecoin, cryptocurrency staking services, and credit cards that provide cryptocurrency rewards. Additionally, the company offers institutional products, including cryptocurrency custody and over-the-counter trading.
According to the Bloomberg Billionaires Index, the Winklevoss brothers have net assets of $7.5 billion each. They are the only two shareholders listed in the filing who hold more than 5% of the shares.
The IPO is being led by Goldman Sachs and Citigroup. The company plans to go public on Nasdaq under the ticker symbol GEMI.
Risk Warning
Investing in cryptocurrencies carries a high level of risk, and their prices can be highly volatile. You may lose your entire principal. Please assess the risks carefully.