📝 Gemini files for IPO

Liam Gill
August 19, 2025

News of the Day

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has filed to go public on the Nasdaq under the ticker GEMI, revealing steep losses despite growing revenues. The New York-based company, launched in 2014, runs an exchange, custodian bank, a USD-backed stablecoin, and a crypto rewards credit card, but its S-1 shows a $158.5 million net loss on $142.2 million in revenue in 2024, and a deeper $282.5 million loss on just $67.9 million in revenue in the first half of 2025. Its IPO follows a wave of crypto listings amid a friendlier regulatory climate under Trump, including Circle’s $1.2 billion debut in June and Bullish’s $1.1 billion raise earlier this month, signalling renewed investor appetite despite profitability questions.

At Hodl Ventures, we have a pretty strong conviction on the financial system going on-chain and becoming agentic.
Secure human-2-agent and agent-2-agent communication is key. This is where @xmtp_ comes in.
🧵We will be hearing a lot from @xtmp_ in the future and here is why:
— Hodl Ventures (@hodl_ventures)
1:51 PM • Aug 18, 2025

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Liam Gill