Gemini的加密Po IPO和华尔街的拥抱：新篇章？

双子座的眼睛在加密IPO激增中的华尔街首次亮相。 Winklevoss Twins的交流会在市场波动和监管景观中导致成功吗？

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

Gemini的加密Po IPO和华尔街的拥抱：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?

加密世界的嗡嗡声！ Winklevoss双胞胎的创意双子座正为华尔街的首次亮相准备。在加密市场的起伏中，随着法规清晰度的出现，双子座能否对其IPO产生影响？

Gemini's Bold Move: IPO on the Horizon

双子座的大胆举动：IPO即将到来

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.

双子座正在为IPO做准备，有可能成为美国计划以17至19美元的价格提供股票的第三份公开交易的集中加密交易所，目标估价约为21亿美元。此举在“ Gemi”下的纳斯达克列表中列出，反映了Circle和Bullish的最新公共参赛作品，这表明了加密货币公司寻求从传统市场验证的趋势的日益增长的趋势。

Financials: A Mixed Bag

财务：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申请表明财务状况混合。虽然双子座在2024年报告的收入为1.422亿美元，但他们的净亏损为1.585亿美元。损失在2025年上半年扩大了。但是，自成立以来，双子座的交易量已达到2850亿美元，表现优于Coinbase最近的季度量。收入流包括交易费用和他们的双子座美元（GUSD）。

Wall Street's Key Players Backing Gemini

华尔街的主要球员支持双子座

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，花旗集团和摩根士丹利等顶级金融机构正在承保双子座的IPO。这种支持强调了对加密货币的长期潜力的信心，即使双子座的私人估值从2021年的71亿美元下降到提议的22.2亿美元。

Regulatory Winds and Institutional Embrace

监管风和机构拥抱

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.

双子座IPO的时机值得注意。 SEC最近的一项裁定澄清了XRP的地位和双子座在马耳他获得加密资产（MICA）许可证的市场，这为机构采用铺平了道路。预计在未来几年，这种法规清晰度将显着扩大机构加密交易。

The Broader Crypto IPO Trend

更广泛的加密IPO趋势

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.

双子座并不孤单。 Figure Technology Solutions还通过IPO寻求资金，其他加密公司（例如Grayscale和BitGo）也宣布了类似的计划。据报道，克雷肯（Kraken）正在关注150亿美元的估值，并潜在的2026年首次亮相。这次IPO浪潮表明，对加密货币市场增长和监管清晰度的增长的机构信心不断增长。

What Does This Mean for the Future?

这对未来意味着什么？

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.

双子座的IPO可能是一个分水岭，将加密货币融入主流金融。如果成功，它可能会鼓励更多的加密企业寻求公开清单，推动创新和更广泛的采用。但是，市场情绪和更广泛的经济环境将在确定双子座的成功中起着至关重要的作用。

Final Thoughts: To the Moon?

最终想法：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!

双子座的IPO会飙升，还是会面临湍流？只有时间会证明。但是可以肯定的是：温克尔沃斯双胞胎正在做大胆的戏剧，而华尔街则密切关注。准备好您的爆米花 - 这将很有趣！