Gemini的加密Po IPO和華爾街的擁抱：新篇章？

雙子座的眼睛在加密IPO激增中的華爾街首次亮相。 Winklevoss Twins的交流會在市場波動和監管景觀中導致成功嗎？

Gemini's Crypto IPO and Wall Street's Embrace: A New Chapter?

Gemini的加密Po IPO和華爾街的擁抱：新篇章？

The crypto world's buzzing! Gemini, the brainchild of the Winklevoss twins, is gearing up for a Wall Street debut. Amidst the ups and downs of the crypto market, and as regulatory clarity emerges, can Gemini make a splash with its IPO?

加密世界的嗡嗡聲！ Winklevoss雙胞胎的創意雙子座正為華爾街的首次亮相準備。在加密市場的起伏中，隨著法規清晰度的出現，雙子座能否對其IPO產生影響？

Gemini's Bold Move: IPO on the Horizon

雙子座的大膽舉動：IPO即將到來

Gemini is prepping for an IPO, potentially becoming the third publicly traded centralized crypto exchange in the U.S. They're planning to offer shares at a price range of $17 to $19, targeting a valuation of around $2.1 billion. Listing on Nasdaq under "GEMI," this move mirrors the recent public entries of Circle and Bullish, signaling a growing trend of crypto firms seeking validation from the traditional market.

雙子座正在為IPO做準備，有可能成為美國計劃以17至19美元的價格提供股票的第三份公開交易的集中加密交易所，目標估價約為21億美元。此舉在“ Gemi”下的納斯達克列表中列出，反映了Circle和Bullish的最新公共參賽作品，這表明了加密貨幣公司尋求從傳統市場驗證的趨勢的日益增長的趨勢。

Financials: A Mixed Bag

財務：混合袋

The IPO filing reveals a mixed financial picture. While Gemini reported $142.2 million in revenue in 2024, they also incurred a net loss of $158.5 million. Losses widened in the first half of 2025. However, Gemini has processed around $285 billion in trading volume since its inception, outperforming Coinbase's recent quarterly volume. Revenue streams include transaction fees and their Gemini dollar (GUSD).

IPO申請表明財務狀況混合。雖然雙子座在2024年報告的收入為1.422億美元，但他們的淨虧損為1.585億美元。損失在2025年上半年擴大了。但是，自成立以來，雙子座的交易量已達到2850億美元，表現優於Coinbase最近的季度量。收入流包括交易費用和他們的雙子座美元（GUSD）。

Wall Street's Key Players Backing Gemini

華爾街的主要球員支持雙子座

Top financial institutions like Goldman Sachs, Citigroup, and Morgan Stanley are underwriting Gemini’s IPO. This backing underscores growing confidence in the long-term potential of crypto, even after Gemini's private valuation declined from $7.1 billion in 2021 to a proposed $2.22 billion.

高盛，花旗集團和摩根士丹利等頂級金融機構正在承保雙子座的IPO。這種支持強調了對加密貨幣的長期潛力的信心，即使雙子座的私人估值從2021年的71億美元下降到提議的22.2億美元。

Regulatory Winds and Institutional Embrace

監管風和機構擁抱

The timing of Gemini's IPO is noteworthy. A recent SEC ruling clarifying XRP's status and Gemini securing a Markets in Crypto Assets (MiCA) license in Malta are paving the way for institutional adoption. This regulatory clarity is expected to significantly expand institutional crypto trading in the coming years.

雙子座IPO的時機值得注意。 SEC最近的一項裁定澄清了XRP的地位和雙子座在馬耳他獲得加密資產（MICA）許可證的市場，這為機構採用鋪平了道路。預計在未來幾年，這種法規清晰度將顯著擴大機構加密交易。

The Broader Crypto IPO Trend

更廣泛的加密IPO趨勢

Gemini isn't alone. Figure Technology Solutions is also seeking funds through an IPO, and other crypto firms like Grayscale and BitGo have announced similar plans. Kraken is reportedly eyeing a $15 billion valuation with a potential 2026 debut. This IPO wave signifies growing institutional confidence in the crypto market's growth and increasing regulatory clarity.

雙子座並不孤單。 Figure Technology Solutions還通過IPO尋求資金，其他加密公司（例如Grayscale和BitGo）也宣布了類似的計劃。據報導，克雷肯（Kraken）正在關注150億美元的估值，並潛在的2026年首次亮相。這次IPO浪潮表明，對加密貨幣市場增長和監管清晰度的增長的機構信心不斷增長。

What Does This Mean for the Future?

這對未來意味著什麼？

Gemini’s IPO could be a watershed moment, further integrating crypto into mainstream finance. If successful, it might encourage more crypto firms to seek public listings, driving innovation and wider adoption. However, market sentiment and the broader economic environment will play crucial roles in determining Gemini's success.

雙子座的IPO可能是一個分水嶺，將加密貨幣融入主流金融。如果成功，它可能會鼓勵更多的加密企業尋求公開清單，推動創新和更廣泛的採用。但是，市場情緒和更廣泛的經濟環境將在確定雙子座的成功中起著至關重要的作用。

Final Thoughts: To the Moon?

最終想法：月球？

Will Gemini's IPO soar, or will it face turbulence? Only time will tell. But one thing's for sure: the Winklevoss twins are making a bold play, and Wall Street is watching closely. Get your popcorn ready – this is going to be interesting!

雙子座的IPO會飆升，還是會面臨湍流？只有時間會證明。但是可以肯定的是：溫克爾沃斯雙胞胎正在做大膽的戲劇，而華爾街則密切關注。準備好您的爆米花 - 這將很有趣！