Company Overview - Gemini, a cryptocurrency exchange founded by billionaire twins Tyler and Cameron Winklevoss in 2014, is preparing for an IPO on NASDAQ under the ticker "GEMI" with Goldman Sachs and Citigroup as lead underwriters [1][4]. Financial Performance - For the first half of 2025, Gemini reported revenue of $68.61 million, a decrease of 7.6% from $74.23 million in the same period last year. The company incurred an operating loss of $113 million compared to an operating loss of $84.8 million in the previous year, and a net loss of $282.5 million compared to a net loss of $41.4 million [2][10][11]. - The projected revenues for 2023 and 2024 are $98.14 million and $140.86 million, respectively, with expected operating losses of $311.6 million and $165.8 million [9][10]. User and Market Metrics - As of June 30, 2025, Gemini serves approximately 523,000 monthly transacting users (MTU) and has over 10,000 institutional clients across more than 60 countries. The platform's asset size exceeds $18 billion, with cumulative trading volume surpassing $285 billion [9][11]. - Since its inception, Gemini has witnessed the overall cryptocurrency market capitalization grow from under $10 billion to over $3 trillion [9]. Product Offering - Gemini issues the Gemini Dollar (GUSD), a stablecoin pegged 1:1 to the US dollar, and supports over 70 cryptocurrencies [8]. Management Team - The executive team includes co-founders Tyler Winklevoss (CEO) and Cameron Winklevoss (President), along with CFO Dan Chen and COO Marshall Beard [13][14].