🚨 Gemini Moves Toward IPO Amid Rising Losses and Ripple Loan Agreement

💱 Cryptocurrency exchange Gemini has officially disclosed its plans for an initial public offering (IPO) on Nasdaq under the ticker GEMI, following a confidential submission in June 2025. This public filing marks the first time Gemini’s financials and corporate structure are fully revealed.

🔑 Key Highlights from the S-1 Filing:

▫️ Net losses surge: $282.5M in H1 2025 vs $41.4M in H1 2024

▫️ Adjusted EBITDA: swung from +$32M in 2024 to -$113.5M in H1 2025

▫️ Corporate strategy: Customer base split between Gemini Trust (NY) and Moonbase (FL) to navigate regulatory frameworks while maintaining operational flexibility

▫️ Ripple loan agreement: $75M credit facility (extendable to $150M) in RLUSD stablecoin, though no funds have been drawn

📊 Despite financial challenges, Gemini is strategically positioning itself for growth and regulatory compliance, signaling its intent to remain a major player in the evolving crypto market.

💡 The IPO and Ripple partnership could reshape institutional access to crypto services — a development worth watching closely.

#Crypto #Gemini #IPO #Blockchain #XRP

https://coingape.com/gemini-details-ipo-plans-amid-increasing-losses-and-ripple-loan-agreement/?utm_source=bnb&utm_medium=coingape