Dec 11 (Reuters) - Cryptocurrency firm Nexo is acquiring Buenbit, an Argentine trading platform, as it ​targets growth across Latin America, it said ‌on Thursday. Nexo, which earlier this year announced it would return ‌to the United States after leaving the market due to $45 million in regulatory fines, has cozied up to the Trump family, meeting with the president ⁠and his son, ‌Don Jr., in recent months. The Cayman Islands company that offers crypto-backed loans, trading ‍tools and a crypto exchange di ...

Core Insights - Blockchain.com is considering a US public listing through a SPAC deal, with Cohen & Company Capital Markets engaged as an advisor, though the status of discussions remains unclear [1][2] Company Developments - Since August 2021, Blockchain.com has aimed for a public offering, raising funds at various valuations, including $120 million in February 2021 and $300 million at a $5.2 billion valuation in March, peaking at $14 billion before adjusting to $7 billion after a $110 million raise in November 2023 [3] - To prepare for its public debut, Blockchain.com has expanded its leadership team, appointing Justin Evans as CFO and Mike Wilcox as COO, and adding Timothy Flynn and Landon Edmond to its board to enhance governance and regulatory expertise [4] Industry Trends - There is a strong momentum for public listings in the crypto sector, with firms like Circle, Bullish, and Gemini successfully going public in 2025 [5] - Blockchain.com has recently expanded its services into Africa, indicating its readiness for a public transition, which may occur this year or in 2026 [5][6] - The push for public listings by crypto firms suggests increasing investor confidence and regulatory clarity for US digital assets [6]

Core Insights - Gemini Space Station's stock has declined significantly following the Federal Reserve's decision to cut rates by 25 basis points, closing down 2.47% to $24.35, with an intraday low of 4.3% [1] - The stock has fallen below its IPO price of $28, losing all initial gains since its public debut, and has dropped more than 10% this week, now valued at approximately $3 billion [2] - The overall performance of crypto stocks has weakened, with Gemini's largest competitor, Coinbase Global Inc., also experiencing a decline of 2.3%, and Bitcoin falling nearly 2% [3] Company Performance - Gemini Space Station's stock closed at $24.05, reflecting a 2.47% decrease [4] - The company operates a crypto exchange, staking, digital custody, and a crypto rewards credit card, and was valued at $7.1 billion during its fundraising in 2021 [4] - Gemini is reportedly handling over $21 billion in assets according to a filing with the U.S. Securities and Exchange Commission [3] Market Context - The S&P 500 and Nasdaq 100 indexes traded lower ahead of the Fed's rate cut decision, indicating a broader market trend affecting tech and crypto stocks [3] - The Winklevoss twins, founders of Gemini, have historically been bullish on Bitcoin, predicting it could reach $1 million per coin in ten years, highlighting their long-term optimism despite current market conditions [5]

Company Overview - Gemini Space Station Inc. has increased the potential size of its initial public offering (IPO) to $433.3 million due to high demand, including a private placement from another exchange operator [1] - The cryptocurrency firm, founded by the Winklevoss twins, has raised the price range for its shares to $24 to $26 from an earlier range of $17 to $19, while still offering 16.7 million shares in the IPO [2][3] Financial Performance - For the six months ending June 30, Gemini reported a net loss of $282.5 million on total revenue of $68.6 million, compared to a net loss of $41.4 million on total revenue of $74.3 million during the same period last year [5] Market Position and Offerings - At the top of the elevated IPO range, Gemini would have a market value of $3.1 billion based on outstanding shares [3] - The company is allocating 10% of the IPO for long-standing users, management, employees, and friends and family, and up to 30% for retail investors on self-directed investing platforms [4] - Gemini has over $18 billion in assets on its platform and offers various services including a crypto exchange, a US dollar-backed stablecoin, crypto staking, digital asset custody, and a credit card that rewards in crypto [4] IPO Details - The IPO is being led by Goldman Sachs Group Inc. and Citigroup Inc., and Gemini is expected to begin trading on the Nasdaq Global Select Market under the symbol GEMI [5]