Gemini Space Station Inc., the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, disclosed larger-than-expected losses in its debut earnings report after going public. The company posted a per-share loss exceeding analyst forecasts amid a declining crypto market.
Gemini Space Station Inc., known for its cryptocurrency trading platform and founded by the Winklevoss twins, Tyler and Cameron Winklevoss, released its first earnings report since becoming a publicly traded company. The disclosure, dated November 10, 2025, revealed a net loss of $6.67 per share, surpassing the $3.24 loss anticipated by analysts polled by Bloomberg.
The exchange went public in September 2025, but its stock has since plummeted nearly 50% from its peak. This decline mirrors broader trends in the cryptocurrency sector, where prices have softened, impacting investor sentiment toward crypto-related firms.
Gemini, which operates under the ticker GEMINI SPACE STATION INC-A, faces ongoing challenges including regulatory scrutiny and market volatility. While the company has expanded into areas like credit cards and sports sponsorships, its initial public performance highlights the risks in the crypto industry. Comparisons to peers like Coinbase Global Inc. underscore the competitive landscape, where earnings disappointments can quickly erode market value.
The Winklevoss brothers, prominent figures in cryptocurrency since founding Gemini in 2014, have navigated the firm through various market cycles. This earnings miss raises questions about the sustainability of crypto exchanges in a maturing but unpredictable market.