Crypto Exchange Gemini's Losses Explode 580% Before Going Public
August 18, 2025 · 6:43 AM
Cryptocurrency exchange Gemini reported a significant increase in losses for the first half of 2025, with a net loss of $282.5 million compared to $41.4 million in the same period last year, as revealed in its IPO filing. Revenue also declined to $68.6 million from $74.3 million. Despite a favorable environment for digital assets and growing institutional adoption, Gemini's financial struggles contrast with the successful public debuts of other crypto firms like Circle and Bullish.
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