Gemini Stock Plummets 80% from IPO, Sparking Takeover Speculation

Gemini stock — The stock of crypto exchange Gemini has plunged roughly 80% from its initial public offering price, slashing its market value to about $753 million and reviving speculation that the firm could become a takeover target.

Gemini’s exchange business has been shrinking, with declines in trading volume, revenue, and assets on the platform contributing to the steep stock decline. The company’s market capitalization is now a fraction of the roughly $4 billion it commanded at its peak following the IPO.

The collapse in valuation is putting fresh attention on the potential value of Gemini’s assets for a prospective buyer. Analysts suggest its suite of regulatory licenses, custody infrastructure, and established customer relationships could be attractive to a larger financial institution or crypto firm seeking a regulated foothold in the United States.

Any potential sale would likely require the approval of founders Cameron and Tyler Winklevoss, who control 94.5% of the company’s voting power. There is currently no public indication of an active bid for the company.