{"id":51521,"date":"2025-10-07T14:01:53","date_gmt":"2025-10-07T14:01:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=51521"},"modified":"2025-10-07T14:01:53","modified_gmt":"2025-10-07T14:01:53","slug":"newly-public-crypto-exchange-gemini-gets-lukewarm-reception-from-kbw","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=51521","title":{"rendered":"Newly Public Crypto Exchange Gemini Gets Lukewarm Reception From KBW"},"content":{"rendered":"<div>\n<p>Investment bank KBW initiated coverage of Gemini Space Station (GEMI) with a market perform rating and a $27 price target, describing the crypto exchange as a well-rounded digital asset platform poised for long-term growth.<\/p>\n<p>Nevertheless, wrote analyst Bill Papanastasiou, Gemini for now remains unprofitable  and discounted valuation to competitor Coinbase is warranted &#8220;as the impact from<br \/>execution and market risk is elevated.&#8221;<\/p>\n<p>KBW said Gemini\u2019s ecosystem, spanning trading, custody, credit cards, staking, stablecoins, and tokenized equities, offers cross-selling potential as the crypto market expands.<\/p>\n<p>The bank highlighted Gemini\u2019s credit card business as a key growth driver, noting that it has more than 100,000 users and strong conversion into exchange activity thanks to crypto-based rewards. <\/p>\n<p>Gemini went <a href=\"https:\/\/www.coindesk.com\/business\/2025\/09\/10\/winklevoss-backed-gemini-prices-ipo-at-usd28-share-values-crypto-exchange-at-more-than-usd3b\">public<\/a> last month at $28 a share, valuing the company at more than $3 billion. <\/p>\n<p>KBW also pointed to the <a href=\"https:\/\/www.coindesk.com\/policy\/2024\/05\/29\/gemini-announces-full-recovery-of-earn-users-digital-assets\">resolution of Gemini\u2019s Earn program<\/a> issues as clearing the way for renewed marketing and competitiveness.<\/p>\n<p>A new <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/09\/09\/nasdaq-to-invest-usd50-million-in-winklevoss-twins-gemini-crypto-exchange-reuters\">partnership with Nasdaq<\/a> could add as much as $47.7 million in near-term revenue through custody and staking services for listed firms, with further upside tied to tokenization trends, the report said.<\/p>\n<p>KBW cited Gemini\u2019s unified app and strong insider ownership, led by founders Cameron and Tyler Winklevoss, as advantages supporting stability and user growth.<\/p>\n<p>Overall, KBW projects 53% annualized revenue growth over three years, outpacing peers, and expects profitability by late 2027, calling Gemini a balanced but promising play for investors betting on a prolonged crypto upcycle.<\/p>\n<p>The stock was 2% higher premarket at $25.80.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/09\/18\/crypto-exchange-gemini-s-stock-trades-below-ipo-price-despite-day-s-gains\"><span style=\"text-decoration:underline\">Crypto Exchange Gemini&#8217;s Stock Trades Below IPO Price Despite Day\u2019s Gains<\/span><\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Investment bank KBW initiated coverage of Gemini Space Station (GEMI) with a market perform rating and a $27 price target, describing the crypto exchange as a well-rounded digital asset platform poised for long-term growth. Nevertheless, wrote analyst Bill Papanastasiou, Gemini for now remains unprofitable and discounted valuation to competitor Coinbase is warranted &#8220;as the impact [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-51521","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51521"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51521\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}