Newly Public Crypto Exchange Gemini Gets Lukewarm Reception From KBW

Investment bank KBW initiated coverage of Gemini Space Station (GEMI) with a market perform rating and a $27 price target, describing the crypto exchange as a well-rounded digital asset platform poised for long-term growth. Nevertheless, wrote analyst Bill Papanastasiou, Gemini for now remains unprofitable and discounted valuation to competitor Coinbase is warranted "as the impact fromexecution and market risk is elevated." KBW said Gemini’s ecosystem, spanning trading, custody, credit cards, staking, st ...