Gemini Space Station, Inc. (GEMI)

Gemini is a cryptocurrency platform founded in 2014 that provides secure financial infrastructure enabling individuals and institutions to buy, sell, store, stake, and trade digital assets, serving users in more than 60 countries as of December 31, 2025 (with a February 2026 announcement to exit international markets including the UK, EU, and Australia to focus on the U.S.). The company has evolved from a core crypto exchange into a vertically-integrated, multi-product platform offering spot and derivatives trading (including Gemini ActiveTrader® and Gemini Derivatives with perpetual contracts and margin trading up to 5x leverage), an over-the-counter (OTC) trading desk (electronic and voice), institutional-grade custody through Gemini Trust (a New York limited purpose trust company) using cold storage, HSMs, and MPC technology, a NYDFS-regulated USD-backed stablecoin (GUSD), staking services for assets like ETH, SOL, and MON, the Gemini Credit Card® (in partnership with WebBank and Mastercard) offering crypto rewards on purchases, and Gemini Predictions™, a CFTC-regulated prediction markets platform launched in December 2025 through its subsidiary Gemini Titan, LLC, enabling event contract trading on outcomes such as crypto prices, elections, sports, and cultural events; the company previously operated the Nifty Gateway NFT marketplace but discontinued it in January 2026. Gemini serves both retail users (individual traders and investors seeking an intuitive, secure platform) and institutional clients (asset managers, hedge funds, proprietary trading firms, and corporations) through advanced trading tools, OTC services, and custody solutions, and holds money transmitter licenses in all 50 U.S. states along with licenses in Europe and Singapore, SOC 1/SOC 2 Type 2 and ISO 27001 certifications, and a robust compliance framework including KYC, AML, and market surveillance.

Revenue is generated primarily through transaction fees on trading volume across retail and institutional platforms, along with custody fees, interest income on custodial balances and stablecoin reserves, withdrawal fees, credit card interchange and interest income, and emerging revenue from prediction markets and spot margin trading; the company also pursues growth through its venture arm, Gemini Frontier Fund, which invests in early-stage crypto projects, and continues to evaluate expansion into additional asset classes such as U.S. equities and tokenized securities.