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Gemini and Figure Technology Set to Go Public in 2025 U.S. IPO Wave

Gemini and Figure Technology Set to Go Public in 2025 U.S. IPO Wave

Gemini’s stock surged 64% on its Nasdaq debut, but has since fallen as the company reports widened losses and weak revenues, highlighting challenges for crypto firms going public.

Fact Check
The statement is strongly confirmed by multiple credible news sources, including Reuters, Morningstar, and Cointelegraph. These sources, all dated within the specified year of 2025, corroborate that both Gemini and Figure Technology have announced plans for U.S. initial public offerings (IPOs) during a broader wave of tech and crypto IPOs.
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Summary

Gemini’s Nasdaq debut under the ticker GEMI saw an initial 64% surge, but the stock closed up just 14% and dropped to $30.42 by September 16, down 24% from its peak. The cryptocurrency exchange reported a 7.7% decline in revenue to $68.6 million and a significant widening of net losses to $283 million in H1 2025. Legal costs from Genesis’s bankruptcy and the Earn program contributed to the poor performance, while a reliance on trading fees for 70% of revenue added to its challenges. Gemini’s IPO occurred amid a broader wave of 2025 crypto listings, but the market is favoring profitable firms like Coinbase and Kraken.

Terms & Concepts
  • Gemini: Gemini is a cryptocurrency exchange and custodian founded by Tyler and Cameron Winklevoss, allowing customers to buy, sell, and store digital assets like Bitcoin.
  • Nasdaq: The Nasdaq Stock Market is a global electronic marketplace for buying and selling securities, with a strong focus on technology and emerging sectors.
  • IPO: An Initial Public Offering is the process by which a private company first sells shares of stock to the public to raise capital for growth and expansion.