Gemini files IPO bid amid crypto rally while bleeding $282m – DL News
- Gemini lost $282 million in 2025 but still plans to go public.
- The exchange holds $2.1 billion in debt.
- It joins a wave of crypto firms tapping public markets this year.
US-based Gemini crypto exchange is striking while the iron is hot, filing for an initial public offering in a raging crypto bull market even as it racks up heavy losses.
The Winklevoss-led company lost $282 million in the first half of 2025, according to its IPO filing made public Friday.
Gemini plans to list on Nasdaq under the ticker GEMI and said it may use the proceeds to repay debt. The firm reported $2.1 billion in liabilities as of June 30, including loans from Galaxy and NYDIG.
Despite the mounting losses, Gemini is betting that favourable market conditions and…
