Goldman Sachs Cuts Gemini to Sell as Profitability Path Darkens
Weak volumes, smaller customer base and ongoing losses raise profitability doubts.
Weak volumes, smaller customer base and ongoing losses raise profitability doubts.
Gemini revenue jumped 42%, boosted by services and cards, secured $100M in Winklevoss funding, cut losses, and its stock surged on the news.
Gemini, backed by the Winklevoss twins, is selling its EU/UK parts for licenses; stock plunged 80% since 2025 IPO.
Citi downgrades Gemini to Sell, slashing price target to $5.50 amid stalled CLARITY Act, profitability woes, and crypto market challenges.
Gemini, the crypto platform by the Winklevoss twins, faces major executive exits, layoffs, and stock drops amid Bitcoin's big fall.
Gemini Space Station announces 200 job cuts and exits UK, EU, and Australia markets as part of $11M restructuring to focus on US and Singapore operations.