Gemini (GEMI)
Provides trading, custody, stablecoin, and digital-collectible services for retail and institutional crypto users.
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Provides crypto trading and custody services for retail and institutional users, alongside Gemini Dollar and Nifty Gateway. Its operating identity is tied to New York regulation, licensing, security, and compliance.
Provides crypto products and services to retail and institutional users through a platform built around exchange and custody infrastructure. The business later extended into Gemini Dollar, a dollar-pegged stablecoin, and Nifty Gateway, a marketplace for buying and managing digital collectibles.
New York is the operating home, while the platform serves both individual and institutional users. Security, licensing, custody, and compliance are recurring operating themes, reflecting its New York charter and NYDFS oversight.
Gemini Earn was a lending program offered with Genesis that halted withdrawals after Genesis stopped allowing them; the program ended. A NYDFS consent order required a civil penalty and customer-restoration contribution, and customers later received the virtual currency owed in kind.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 17, 2026 | Cantor Fitzgerald | Reiterate | Rating: —Target: $8 | Target: $5 |
| Aug 17, 2026 | Needham | Reiterate | Rating: —Target: $10 | Target: $6 |
| Aug 17, 2026 | Rosenblatt Securities | Target | Target: — | Target: $6 |
| Aug 17, 2026 | Mizuho Securities | Target | Target: $8 | Target: $7 |
| Aug 17, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $4 | Target: $3.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $623.4M · Total debt $520.8M · Total assets $1.50B · Shareholders' equity $468.3M
- Revenue
- $45.5M
- Operating income
- −$76.9M
- Net income
- −$107.7M
No dividends on record.
| Institutions | ≈ 14.49% | 18.78M shares | |
|---|---|---|---|
| 111 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 2.78% | 3.60M shares | |
| 8 holders · as of Aug 24, 2026 | |||
| Strategic holders | 63.45% | 82.27M shares | |
| 1 holder · as of May 18, 2026 | |||
| Other | ≈ 19.28% | 25.00M shares | |
| remainder | |||
129.65M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (129.65M in the company's Sep 22, 2026 report, 44.16M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Winklevoss Capital Fund, LLCStrategicdirector, 10 percent owner | 63.45% | 7.14M A · 75.13M B | filed May 18, 2026 |
Parafi Capital LPInstitution | 2.64% | 3.43M A | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 2.19% | 2.85M A | as of Jun 30, 2026 |
Marshall Edmund BeardInsiderdirector, officer: Chief Operating Officer | 1.16% | 1.51M A | filed Jan 27, 2026 |
Marshall Wace, LLPInstitution | 1.11% | 1.44M A | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | Danijela Stojanovic | officer: Interim CFO | −7,940 | $4.05 |
| Jul 2, 2026 | Danijela Stojanovic | officer: Interim CFO | −8,438 | $4.44 |
| May 20, 2026 | Danijela Stojanovic | officer: Interim CFO | −11,700 | $5.05 |
| Mar 11, 2026 | Sachin Chand Jaitly | director | −39,708 | $8.92 |
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CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Gemini | $5.90 | −0.67% | $731.9M | — | — | 3.7 | +32.4% |
| Coinbase | $200.65 | −0.19% | $53.04B | — | 307.5 | 9.6 | −18.5% |
| Robinhood Markets | $123.70 | −0.41% | $110.86B | 54.3 | 51.1 | 22.5 | +32.3% |
| Bullish | $40.70 | −0.07% | $6.09B | — | 64.8 | 0.0 | +62.5% |
| Circle | $94.11 | −0.40% | $25.26B | 50.3 | — | 8.7 | +6.6% |
| Median | 52.3 | 64.8 | 9.1 | +19.4% |