Gemini Hires Goldmans, Citi, Morgan Stanley and Cantor As Lead Bookrunners for Its ITS IPO

The Company SID NET REVENENUE FOR THE FIRST SIX MONHS OF 2025 WAS $ 67.9 Million, Against A Net Loss of $ 282.5 Million.Updated Aug 16, 2025, 3:16 pm PUBLISHED AUG 16, 2025, 3:15 PM

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 ASPANNers, COMPANNers Academy Securities and Amerivet Securities Are Acting As Co-Managers.

The S-1 Published on Friday Follows a Confidential Filing submitted to the us securities and exchange commission backs to sell an an undisclosyd 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 MONTS OF 2024.

ITS NET LOSS IN 2024 STOD AT $ 158.6 Million, Compared to $ 319.7 Million in 2023. That Figure Stood at $ 282.5 Million for The FIRST SIX MONHS OF 2025.

ITS EARNINGS BEFORE INTEREST, TAXES, Department and Amortization for 2024 STOD 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 Pottion of the Filing, Incling the General Nature of Blockchain Networks and How Banks and Regulants View View.

“Key Factors Influencing The Further Development of Blockchain Networks and Digital Assets Include the Global Adoption of Digital Assets and Blockchain Technology and Operation of Blockchain Networks;

Gemini is Only the Latest Crypto Company to Try and Go Public This Year, Following Circle (CRCL), Etoro (Etoro) 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 Gemi.

Read More: Billionaire Winklevoss Twins-Backed Exchange Gemini Files with Sec for Planned IPO