Gemini Files for Nasdaq Listing Amid $282M H1 Losses as Crypto IPO Momentum Builds

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has submitted an S-1 filing to go public on Nasdaq under ticker GEMI. The move comes despite reporting $282.5 million in net losses during the first half of 2025, signaling confidence in investor appetite for crypto-related stocks.

Wall Street heavyweights Goldman Sachs, Citigroup, and Morgan Stanley are leading the IPO, which follows successful debuts by Circle and Bullish. The latter saw shares triple from their $37 offering price, demonstrating robust demand for digital asset exposure.

This filing marks a pivotal moment for the crypto industry's maturation, with multiple exchanges including OKX and Kraken reportedly considering public listings. The trend reflects growing institutional acceptance despite ongoing volatility in cryptocurrency markets.