Crypto Exchange Gemini presented an updated registration statement for its initial public offer effort, sharing some more details in its impulse to become a company that is quoted in the stock market.
Goldman Sachs (GS)Citigroup (DO)Morgan Stanley (EM) And singer acting as main booksellers in the OPI, Gemini said in a press release on 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. The values of the academy and the Amerivet values are acting as co-managers.
The S-1 published on Friday follows a confidential presentation presented to the US Stock Exchange and Securities Commission.
Gemini’s presentation indicated that it had generated total income of $ 142.2 million in 2024, compared to $ 98.1 million in the previous year. For the six months that end on June 30, 2025, the total revenues were $ 68.6 million, below $ 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 during the first six months of 2025.
Their profits before interest, taxes, depreciation and amortization for 2024 were a loss of $ 13.2 million, and a loss of $ 113.5 million for the first half of 2025.
Like other cryptographic companies, Gemini pointed out the standard risks in the risk of presentation, including the general nature of Blockchain networks and how banks and regulators see the industry.
“The key factors that influence the additional development of blockchain networks and digital assets include the global adoption of digital assets and blockchain technology; regulatory and quasi-government restrictions in the access and operation of blockchain networks; and the maintenance of open source protocols that support the blockchain networks,” the file said.
Gemini is just the last cryptographic company to try to make public this year, after Circle (CRCL)ETORO (ETOR) And the Coindesk Bullish parent company (BLsh). Bitgo has requested the paperwork to be made public too.
Gemini plans to list its common class A actions in the Nasdaq Global Select market under the Ticker Gemi symbol.
Read more: Winklevos multimillionaire support Gemini files with SEC for IPO planned
