Latest news with #GeminiSpaceStation
Yahoo
a day ago
- Business
- Yahoo
Winklevoss Twins' Crypto Trading Platform Gemini Files for IPO
Key Takeaways Famous crypto investors Cameron and Tyler Winklevoss filed for an initial public offering for their crypto trading platform. The registration for the Gemini Space Station IPO noted that neither the number of shares nor their price has been determined. The Winklevoss twins said crypto is creating a new "Golden Age" in finance. Gemini Space Station, the cryptocurrency trading platform founded in 2014 by famed cryptocurrency investors Cameron and Tyler Winklevoss, has registered to launch an initial public offering. In a filing with regulators, Gemini said that the number of shares and the price of the offering have not yet been determined. The company explained that it has had a lifetime trading volume of $285 billion and boasted more than $18 billion worth of crypto under custody as of June 30. The Winklevoss twins wrote in the prospectus that with crypto, "a new Golden Age is upon us.' They said the financial markets "are moving onchain" and that "digital assets are profoundly changing the way we transact and store value." They added that "this is the crypto frontier" and that Gemini is a "Super App" for it. The company noted that it intended to trade on the Nasdaq under the ticker symbol "GEMI." Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
Gemini Hires Goldmans, Citi, Morgan Stanley and Cantor as Lead Bookrunners For its IPO
Crypto exchange Gemini filed an updated registration statement for its initial public offering effort, sharing a few more details in its push to become a publicly traded firm. Goldman Sachs (GS), Citigroup (C), Morgan Stanley (MS) and Cantor acting as lead bookrunners on the IPO, Gemini said in a press release Friday. Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, Needham & Company and Rosenblatt are also acting as bookrunners, the company said. Academy Securities and AmeriVet Securities are acting as co-managers. The S-1 published on Friday follows a confidential filing submitted to the U.S. Securities and Exchange Commission back in June, and confirms "Gemini Space Station," co-founded by Cameron and Tyler Winklevoss, intends to sell an undisclosed number of Class A shares. Gemini's filing indicated that it had generated total revenue of $142.2 million in 2024, up from $98.1 million the prior year. For the six months ending on June 30, 2025, the total revenue was $68.6 million, down from $74.3 million in the first six months of 2024. Its net loss in 2024 stood at $158.6 million, compared to $319.7 million in 2023. That figure stood at $282.5 million for the first six months of 2025. Its earnings before interest, taxes, depreciation and amortization for 2024 stood at a loss of $13.2 million, and a loss of $113.5 million for the first half of 2025. Like other crypto firms, Gemini pointed to standard risks in the risk portion of the filing, including the general nature of blockchain networks and how banks and regulators view the industry. "Key factors influencing the further development of blockchain networks and digital assets include the global adoption of digital assets and blockchain technology; regulatory and quasi-government restrictions on access to and operation of blockchain networks; and the maintenance of open source protocols that support blockchain networks," the filing said. Gemini is only the latest crypto company to try and go public this year, following Circle (CRCL), eToro (ETOR) and CoinDesk parent company Bullish (BLSH). BitGo has filed for paperwork to go public as well. Gemini plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Winklevoss twins' crypto company Gemini files for IPO
Another crypto company is headed for the public markets. This time, it's Gemini Space Station Inc., the New York-based crypto exchange and custodian bank founded by billionaire twins Cameron and Tyler Winklevoss. The outfit, which plans to list on the Nasdaq Global Select Market under the symbol GEMI, was founded in 2014 and operates as an exchange and custodian that offers a number of products and services, including a U.S. dollar-backed stablecoin and a credit card that offers rewards in crypto. The company's S-1 document, which was filed Friday after markets closed, provides a look at its finances. The upshot: Gemini appears to have widening net losses. The company reported a net loss of $158.5 million on $142.2 million in revenue in 2024. Net losses in the first six months of 2025 havw already exceeded that number. Gemini reported a net loss of $282.5 million on $67.9 million in revenue in the six months ending June 30. Gemini is the latest crypto company to turn to the public markets as the regulatory environment has eased and the Trump administration has embraced digital currencies and other crypto assets. In June, Circle Internet Group raised $1.2 billion in an IPO. The company, one of the world's largest issuers of USDC, a stablecoin pegged to the U.S. dollar, had a blockbuster debut with its stock trading 168% above its IPO price of $31 set the previous day. On Monday, despite higher revenue than a year earlier, Circle reported a quarterly loss due to one-time costs associated with that June public offering. Earlier this month, crypto exchange Bullish, which also owns media outlet CoinDesk, raised $1.1 billion in its IPO. Bullish, led by former president of the NYSE Tom Farley, saw its shares more than double from its $37 IPO price to peak at $118.
TechCrunch
4 days ago
- Business
- TechCrunch
Winklevoss twins' crypto company Gemini files for IPO
Another crypto company is headed for the public markets. This time, it's Gemini Space Station Inc., the New York-based crypto exchange and custodian bank founded by billionaire twins Cameron and Tyler Winklevoss. The outfit, which plans to list on the Nasdaq Global Select Market under the symbol GEMI, was founded in 2014 and operates as an exchange and custodian that offers a number of products and services, including a U.S. dollar-backed stablecoin and a credit card that offers rewards in crypto. The company's S-1 document, which was filed Friday after markets closed, provides a look at its finances. The upshot: Gemini appears to have widening net losses. The company reported a net loss of $158.5 million on $142.2 million in revenue in 2024. Net losses in the first six months of 2025 havw already exceeded that number. Gemini reported a net loss of $282.5 million on $67.9 million in revenue in the six months ending June 30. Gemini is the latest crypto company to turn to the public markets as the regulatory environment has eased and the Trump administration has embraced digital currencies and other crypto assets. In June, Circle Internet Group raised $1.2 billion in an IPO. The company, one of the world's largest issuers of USDC, a stablecoin pegged to the U.S. dollar, had a blockbuster debut with its stock trading 168% above its IPO price of $31 set the previous day. On Monday, despite higher revenue than a year earlier, Circle reported a quarterly loss due to one-time costs associated with that June public offering. Earlier this month, crypto exchange Bullish, which also owns media outlet CoinDesk, raised $1.1 billion in its IPO. Bullish, led by former president of the NYSE Tom Farley, saw its shares more than double from its $37 IPO price to peak at $118. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital, Elad Gil — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $600+ before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW
Yahoo
4 days ago
- Business
- Yahoo
Winklevosses' Gemini Files for IPO as Crypto Listings Accelerate
(Bloomberg) — Gemini Space Station Inc., led by the billionaire Winklevoss twins, filed for an IPO as the cohort of crypto businesses seeking to list on public markets continues to swell. The US-Canadian Road Safety Gap Is Getting Wider Festivals and Parades Are Canceled Amid US Immigration Anxiety A Photographer's Pipe Dream: Capturing New York's Vast Water System To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' Five Years After Black Lives Matter, Brussels' Colonial Statues Remain The New York City-based crypto exchange and custodian had a net loss of $282.5 million on $67.9 million revenue in the six months through June 30, versus a net loss of $41.4 million on revenue of $73.5 million in the same period a year earlier, according to a filing with the US Securities and Exchange Commission Friday. Founded in 2014, Gemini has more than $18 billion of assets on the platform, the filing shows. In the first six months of this year, transaction revenue from volume-based trades accounted for 65.5% of Gemini's revenue. The rush of crypto companies listing publicly comes as the Trump administration has embraced the industry and crypto legislation was signed into law. Stablecoin issuer Circle Internet Group Inc. went public in June in a $1.2 billion IPO, surging 168% on its first trading day, and crypto exchange Bullish climbed 84% in its debut after raising $1.1 billion earlier this week. Gemini, which counts Cameron Winklevoss as its president and Tyler Winklevoss as its chief executive officer, offers a crypto exchange, a US dollar-backed stablecoin, crypto staking and a credit card that offers rewards in crypto. It also has institutional products including crypto custody and over-the-counter trading. Cameron and Tyler each have a net worth of $7.5 billion, according to the Bloomberg Billionaires Index. They are the only shareholders in Gemini with stakes of 5% or more listed in the latest filing. The company previously faced charges from the US SEC in 2023 for selling unregistered securities to retail investors through its Gemini Earn crypto asset lending program, but the SEC dropped those charges earlier this year. The company agreed to pay $5 million to end a Commodity Futures Trading Commission lawsuit in January, without admitting or denying liability. The lawsuit had alleged Gemini misled the regulator when trying to launch the first US-regulated Bitcoin futures contract. The Winklevoss twins came to prominence after a dispute with Facebook founder Mark Zuckerberg over ownership of the social network. The twins attended President Donald Trump's signing of the stablecoin legislation in July and had previously donated Bitcoin to his campaign that exceeded the maximum amount allowed, so were refunded the difference. They have invested in American Bitcoin Corp., a Bitcoin mining venture tied to Trump's sons, Bloomberg News reported. The offering is being led by Goldman Sachs Group Inc. and Citigroup Inc., the filing shows. The company plans to make its debut on the Nasdaq Global Select Market under the symbol GEMI. Americans Are Getting Priced Out of Homeownership at Record Rates What Declining Cardboard Box Sales Tell Us About the US Economy Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Twitter's Ex-CEO Is Moving Past His Elon Musk Drama and Starting an AI Company Dubai's Housing Boom Is Stoking Fears of Another Crash ©2025 Bloomberg L.P. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
