Gemini shares down 20 percent: Stock market debut goes awry

2025 was not only a year of bullishness, but also of IPOs. Several major crypto companies ventured to go public – among them Gemini, which celebrated its New York Stock Exchange debut just last Friday.
However, the stock didn't pass its baptism of fire. GEMI has plummeted by over 20 percent since its launch – 10 percent on Tuesday alone. At the time of writing, the stock is trading at $29.62, according to data from Tradingview.
The rapid decline in share price could be due to the financial health of the Winklevoss twins' company, as Gemini is currently in the red.
In its registration statement, the crypto exchange reported a loss of nearly $283 million in the first six months, after already suffering a total loss of $159 million in 2024.
So far, the company has been keeping itself afloat with financing rounds. Recently, it gained Nasdaq as a strategic partner, Reuters reported. The tech exchange invested $50 million in Gemini, in return for which customers received access to the crypto exchange's custody and staking services.
At the same time, Gemini is working hard on a crypto super-app that will combine various services into one ecosystem. Whether this will ultimately help the company navigate its troubled waters remains to be seen.

Recommended Video Fed Decision: Why These Solana Coins Can Profit Now!

No results