Cryptocurrency Exchange Gemini Publishes IPO Filing, Secures Credit Line from Ripple

On the 15th, U.S. cryptocurrency exchange Gemini released its draft registration statement for an Initial Public Offering (IPO) filed with the U.S. Securities and Exchange Commission (SEC). Gemini has applied to list on the NASDAQ stock exchange under the ticker symbol 'GEMI'. The IPO price has not been disclosed. The IPO is being overseen and executed by Goldman Sachs, Citigroup, Morgan Stanley, and Cantor, among others. According to the documents submitted, Gemini's financial situation has deteriorated compared to the past. For the first half of 2025, it recorded a net loss of $282.5 million (approximately 41.5 billion yen). The net loss for the same period in 2024...