Winklevoss twins’ Gemini reveals lower revenue and wider loss in US IPO filing

Written by Pretam Paiswas

(Reuters) -Gemini’s revenues decreased and the losses expanded in the first half of 2025, according to the exchange of cryptocurrencies in the public subscription file in the United States, joined a wave of digital asset companies that seek to benefit from public markets.

The conditions of the deposit, which were announced on Friday, have not been revealed.

The company announced a net loss of $ 282.5 million on total revenues of $ 68.6 million in the six months ending June 30, compared to a net loss of $ 41.4 million on revenues of $ 74.3 million before.

American public subscription activity has recovered in recent months after slowing down this year due to uncertainty about commercial policy changes, with many new lists that attract the strong demand for investors.

Digital asset companies have also appeared prominently in the public subscription market in recent months, including their first appearance in Stablesoin Sexuer Circle and Cryptocurrency Exchang Bullish.

The first Bullish appearance on Wednesday made it the second cryptocurrency exchange in the country after Coinbase Global. Gemini will become the third public encryption exchange once it is publicly published.

“The question for investors related to Al -Jamini is about the business mix and the trading trench versus custody, how to distinguish between trust and growth, and what they do cannot be copied by Tuesday,” said Michael Ashley Shulemann, his partner in Ron Point Capital.

Gemini said it would use public subscription revenues for public companies and pay all or part of the third party debt.

Exchange also supports Stablecoins on its platform, a segment that caught the attention after the signing of the Genus law, a new American law that creates a regulatory framework for Stablecoins.

Gemini is issued by the Gusd, which is 1: 1 to the US dollar.

The company, which also supports more than 70 encrypted currencies and operates in more than 60 countries, was provided quickly to obtain public subscription in June.

GIMII, which was established in 2014 by Twins Twins Tyler and Cameron Winklevoss, is planned to include them on the Nasdaq Stock Exchange under the Ticker “GEMI”. Goldman Sachs and City Group behaves as a major leader.

Winklevoss twins rose to the lead after sue Facebook, CEO Mark Zuckerberg, claiming that he stole his idea in the social network. They settled in 2008 for cash and Facebook shares.

Organizational reinforcement

It strengthened organizational clarity under the Trump administration, the height of institutional adoption, the increase of ETF flows, investor confidence and helped integrate encryption in the prevailing financing.

At the moment of the toilets for this industry, Coinbase became the first company to focus on Blockchain to join the S&P 500 earlier this year. Block, which facilitates Bitcoin, joined the index in July.

This transformation represents a transformation of an industry that has spent more than a decade under heavy organizational scrutiny around the world.

“We have seen a shift from speculation to sustainability,” Nick Jones, founder of Zumo said. Founding investors are looking for real customers, organized products, and harmonious markets.

(Participated in the reports of Bartam Bisas in Bangaluru; editing by the name Zahid)