Aug 15 (Reuters) -

Cryptocurrency exchange Gemini said its revenue fell and its

loss widened in the first six months of 2025, according to its

regulatory filing for a U.S. IPO made public on Friday, as it

joins a wave of digital asset companies seeking to tap public

markets.

Terms of the offering were not disclosed.

The company reported a net loss of $282.5 million on a

total revenue of $68.6 million in the six months ended June 30,

compared with a net loss of $41.4 million on a revenue of $74.3

million year earlier.

Activity in the U.S. IPO market has rebounded in recent

months following a slowdown earlier in the year, caused by

uncertainty over trade policy changes, with several new listings

receiving an overwhelming response from investors.

Digital asset companies have also featured prominently in

the IPO market in recent months, including blockbuster debuts

from stablecoin issuer Circle and cryptocurrency

exchange Bullish.

Bullish's debut on Wednesday

made it the second listed cryptocurrency exchange in the

country after Coinbase Global ( COIN ). Gemini will become the

third public crypto exchange once it goes public.

Gemini, which supports more than 70 cryptocurrencies and

operates in over 60 countries, confidentially filed for an IPO

in June.

The company, which was founded in 2014 by billionaire

twins Tyler and Cameron Winklevoss, plans to list on Nasdaq

under the ticker symbol "GEMI." Goldman Sachs and Citigroup are

acting as lead bookrunners.

The Winklevoss twins rose to prominence after suing

Facebook, and its CEO Mark Zuckerberg, alleging he

stole their idea for the social network. They settled in 2008

for cash and Facebook stock.