The LSE Directory / Crypto exchanges
Gemini Trust Company, LLC, operating under public parent Gemini Space Station, Inc., is a US cryptocurrency exchange and custodian. It lets retail and institutional customers buy, sell, and store more than 90 cryptocurrencies, and layers on staking, margin trading, a self-custody wallet, an OTC desk for institutional block trades, and a crypto-linked credit card. The company was founded in May 2014 by twin brothers Cameron and Tyler Winklevoss and began live trading on October 25, 2015. Gemini's defining differentiator is its regulatory structure: it operates under a Limited Purpose Trust Charter granted by the New York State Department of Financial Services in October 2015, putting it under bank-like state supervision rather than the money-transmitter licenses most competitors rely on. It built out institutional custody and OTC services aimed at asset managers and corporates alongside a retail app, and deployed Nasdaq market surveillance technology to monitor trading on its platform. In 2026 it broadened beyond crypto, adding zero-commission US stock trading and, backed by a CFTC derivatives clearinghouse license won in April 2026, a prediction-markets product aimed at competing with Kalshi and Polymarket. The company issues its own dollar-pegged stablecoin, Gemini Dollar (GUSD), and acquired NFT marketplace Nifty Gateway in 2019. It raised $400 million in a 2021 funding round at a $7.1 billion valuation, and listed on Nasdaq under the ticker GEMI in September 2025 at an IPO price of $28 a share. The 2023 collapse of its Gemini Earn lending program, run in partnership with Genesis Global Capital, triggered regulatory action and left roughly 230,000 users awaiting recovery of assets. 2025 and 2026 have been turbulent for the company: Gemini reported a net loss of $582.81 million for 2025, cut roughly 30% of its workforce in March 2026, and closed retail accounts in the UK, EEA and Australia in early 2026 to concentrate on the US market. In May 2026, Winklevoss Capital Fund injected $100 million into the company, and Gemini has been leaning on its credit-card business, cited as growing roughly 15-fold year over year, and its new prediction-market platform as its next growth lines.
