Gemini Aims for Nasdaq IPO Despite Financial Losses

Gemini Exchange, founded by the Winklevoss brothers, has filed an S-1 form with the SEC for a Nasdaq listing. This move comes amidst a surge of crypto listings on US exchanges and raises questions about its ability to attract Wall Street despite a history of financial struggles. The company’s pursuit of an IPO coincides with the recent crypto boom and seeks to leverage a favorable regulatory environment created by the Trump administration’s pro-crypto stance, including the passage of the GENIUS Act for stablecoins.