Under the leadership of the US -based crypto currency exchange Gemini, its founders Cameron and Tyler Winklevoss, the US Securities and Stock Exchange Commission (SEC) applied to the public offering. As the first step of the public offering process, the company offers a secret draft in June. In the official application, Gemini wanted to list the Class A shares with the “Gemı” code in Nasdaq Global Select Market.
Binary stock structure and control mechanism
Gemini’s public offering application, the company adopted a double -class stock structure. Class A shares provide owners a vote per share, while the Class B shares, which are kept only by the founders and affiliated organizations, give ten votes per share. This system, the founders aimed at providing majority control over the company was expressed. According to NASDAQ rules, this building company brings the company to the status of “controlled company”.
In the public offering process, important financial institutions such as Goldman Sachs, Morgan Stanley, Citigroup and Cantzgerald will take part in the process. Gemini presents himself as a safe and user -friendly platform for processing and storing digital assets. According to the company’s data, the number of active users of the monthly exceeding 500 thousand, while the corporate side is carried out with nearly 10 thousand customers. The number of countries where the company operates is over 60.
Economic indicators and growth emphasis
In the public offering file of the company, the managed customer assets have reached $ 18 billion, so far more than $ 800 billion transfer transactions have been realized and the volume of transaction exceeded 285 billion dollars. Based on these data, Gemini emphasized the growth potential of the crypto money market. In addition, it was pointed out that the more widespread of the sector and the emergence of new practices can offer important opportunities.
The following statements were included in Gemini’s statement:
“Our numerical indicators reflect the general growth potential of the sector and the future opportunities.”
Latest financial situation and financial difficulties
In the financial reports prepared by Gemini, some important negativities were pointed out. In 2024, 142.2 million dollars was generated, but the net loss in the same period was recorded as 158.5 million dollars. In the first half of 2025, the income fell to $ 67.9 million, while the net loss reached 282.5 million dollars.
Experts say that this financial picture continues to have difficulties in scaling and show that it may need to provide additional capital through the public offering. At the same time, the company, Ripple $3.12 And it was stated that it was financing agreements with some other companies.
According to reports, Gemini has created a credit limit of $ 75 million with Ripple, which can be increased to $ 150 million. It has been announced that no lottery has been made from this loan so far. The company has also borrowed from Winklevoss Capital Fund (WCF) in the past. Operations, margin requirements and regulation compatibility were used from WCF with a fund of 133,430 ETH and 10.051 BTC.
Gemini should pay 39,699 ETH and 4,682 BTC refund to WCF as of June 30, 2025, and annual interest rates ranged between 4 and 8 percent. Winklevoss Capital Fund was reminded that the company’s founders were a family fund of Cameron and Tyler Winklevoss.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
