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Gemini IPO Hype Fades With 12% Drop; Stock Under Pressure
Gemini IPO Hype Fades With 12% Drop; Stock Under Pressure
27
3
BTCCSquare news:
Gemini Space Station's shares have fallen below their IPO price just days after going public, dropping over 12% to $24. The Winklevoss-led exchange had raised $425 million at $28 per share, valuing the company at $3.3 billion. Despite an initial 14% surge on its first trading day, momentum has waned, pushing its market capitalization below $3 billion.
The New York-based platform, which oversees $21 billion in crypto assets, reported a $283 million net loss in the first half of 2025—nearly double its 2024 full-year loss. Regulatory headwinds loom as the SEC settlement approaches, compounding challenges for the exchange.
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