According to the report on the form of the S-1 filed by Gemini Space Station to the US Securities and Exchange Commission (SEC), the exchange carries growing clean losses. In 2024, the Gemini pure losses amounted to $ 158.5 million with $ 142.2 million revenue. In the first six months of 2025, these figures increased. As of June 30, the net losses of the exchange for six months amounted to $ 282.5 million, while the revenue had $ 67.9 million.
Leading bookranners (banks that bear the main responsibility for filling out the book of applications when placing and taking over the greatest risk) will be Goldman Sachs, Citigroup, Morgan Stanley and Cantor banks. Academy Securities and Americavet Securities will perform the participants in the syndicate for the placement of securities.
The Gemini exchange was founded in 2014 – now it is functioning as a trading platform and a casteral bank. Gemini has also launched its own GUSD stabelcoin, secured by the US dollar.
The regulatory environment for crypto companies in the United States has undergone significant improvements since President Donald Trump returned to the White House-SEC abandoned many claims against cryptocurrency firms. Later, Cameron Winklvoss said that the regulator closed the investigation in a separate case related to Gemini. In addition, Winklvoss announced the plans of the exchange to open a new office in Miami.
In June, the Tron crypto project, founded by Justin Sun, also announced plans to become a public company through a return merger with the SRM Entertainment company trading on the NASDAQ stock exchange.
Source: Bits
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