Gemini is aiming for a Nasdaq listing as GEMI, with its IPO filing revealing a significant revenue decline and restructuring plans. The company reported a $282.5 million loss in the first half of 2025, significantly higher than last year’s $41.3 million. This financial downturn prompted a shift to move most customer accounts from New York to Florida-based Moonbase, while Gemini Trust remains operational in New York and will focus on its existing operations. A new credit facility with Ripple offers access to up to $75 million in RLUSD stablecoin, expandable to $150 million, highlighting the company’s partnership with the blockchain giant. The move is part of a broader strategy for Gemini to become the third publicly traded crypto exchange in the United States.