Cryptocurrency exchange Gemini has officially filed for a listing on the Nasdaq, seeking to raise capital as it grapples with significant financial losses. The company reported a $282.5 million loss in the first half of 2025 and is looking to Wall Street for support through this IPO. While the move signals confidence in the crypto sector despite these challenges, investors are wary about Gemini’s financial struggles, including declining revenue and assets under custody. Notably, Goldman Sachs has pledged its backing for this IPO. Despite facing a challenging market landscape, Gemini leaders remain optimistic about their future and plan to navigate these financial hurdles through strategic actions. The wider industry dynamics, particularly regulatory developments and recovery plans, will play a crucial role in shaping the company’s trajectory going forward.