Overview

• Shares dropped 12.8% to close at $24.53, recovering slightly after hours, following a 25-basis-point Fed rate cut and a broader pullback in crypto equities.
• Gemini now trades below its $28 offering level for a second straight session, placing the company’s market value under $3 billion.
• The SEC and Gemini told a federal court they reached a resolution in principle over the Gemini Earn case, with parties seeking a paperwork deadline extension to December 15.
• The company reported a $283 million net loss for the first half of 2025, exceeding the $159 million loss recorded for all of 2024.
• The IPO priced at $28, opened at $37.01, spiked to $45.89 intraday, and raised about $425 million through 15.2 million shares before ending day one near $32.