EXCLUSIVE: Gemini’s IPO Fueled by Ripple’s Cash? The Billion-Dollar Crypto Connection

Rumors swirl as Gemini gears up for its Wall Street debut—but is the exchange quietly backed by Ripple's war chest?

Wall Street's watching the crypto space like hawks, and Gemini's upcoming IPO just threw raw meat into the arena. Sources whisper about a potential financial lifeline from Ripple, though both firms remain tighter-lipped than a Bitcoin maximalist at an Ethereum conference.

The timing's suspicious. Just as SEC scrutiny heats up for both companies, Gemini's sudden IPO push reeks of either genius maneuvering or desperation—take your pick. One thing's clear: in crypto, the 'partnerships' section of a prospectus often reads more like a survival strategy than a growth plan.

Here's the kicker: if true, this would mark the first major IPO where a 'stablecoin adjacent' company props up an exchange. The irony? Ripple's own regulatory battles make this potential move either brilliantly symbiotic or dangerously codependent.

As usual in crypto finance, follow the money—just don't be surprised if it leads you in circles.

A high-profile rumor is circulating in the crypto sphere: Is Gemini, the well-known crypto exchange founded by the Winklevoss twins, tapping into Ripple’s funding sources as it prepares for its anticipated Initial Public Offering (IPO)? 

Let’s investigate what’s accurate, what’s exaggerated, and what’s confirmed by the official filings.

Who Started the Claim?

The speculation grew after Gemini filed its S-1 IPO registration with the U.S. SEC, which revealed several strategic funding maneuvers as the exchange gears up for a public debut. Several news outlets, social media, and crypto forums suggested that Ripple Labs is directly funding Gemini’s IPO bid.

But what does the evidence say? Is it True or just another rumour?

Fact Check: What Do Gemini’s IPO Filings and Official Disclosures Reveal?

According to Gemini’s S-1 IPO registration statement with the U.S. SEC, Gemini has indeed entered a credit agreement with Ripple Labs. This agreement grants Gemini access to a revolving credit facility of up to $75 million, with the ability to scale to as much as $150 million if certain conditions are met. 

Here are the facts:

The arrangement allows Gemini to borrow in minimum increments of $5 million, with interest rates ranging between 6.5% and 8.5%, depending on leverage ratios. This helps Gemini stay flexible and well-prepared before going public.

As of the filing date in August 2025, Gemini had not yet drawn on the Ripple credit line.

The facility gives Gemini flexibility to shore up liquidity under investor scrutiny and provide a buffer against market volatility as it makes its public market debut.

Importantly, this is not an equity purchase or a direct investment by Ripple into Gemini’s IPO funding; the agreement acts more as a safety net rather than as outright financing of the IPO itself.

Summary Table: Coinpedia’s Fact Check

Claim Made by Theory	Coinpedia’s Counter-Evidence
Has Gemini secured general funding from Ripple	Gemini has secured a credit line from Ripple as per official filings, but has not yet drawn on funds.
Is Ripple directly funding Gemini’s IPO	Ripple provides liquidity support, not direct IPO investment or underwriting.
Funds are an investment or equity stake by Ripple	Ripple is offering a credit facility, not buying shares or equity

Conclusion

Claim	Gemini is drawing on funding from Ripple in preparing for its IPO.
Verdict	Partly True
Fact-Check by Coinpedia	Based on Coinpedia’s investigation and review of Gemini’s official S-1 filings and multiple independent reports, Gemini has set up a substantial credit facility with Ripple, designed to secure liquidity as the exchange goes public.  However, this line of credit is not a direct IPO investment, and, as of the latest disclosure, no funds have been drawn.

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