---
title: "Gemini Shares Slump to Record Low of $3.22, Marking 89% Drop Post-IPO"
description: "The exchange's public equity hit an all-time low despite revenue growth, as six-month losses topped $216 million."
url: https://basisdesk.news/news/gemini-stock-record-low-post-ipo
published: 2026-10-20T16:21:41.031Z
modified: 2026-10-20T16:21:41.031Z
section: Institutions & ETFs
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bearish
tickers: []
tags: [Gemini, IPO, Equities, Tyler Winklevoss, Cameron Winklevoss, SEC]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# Gemini Shares Slump to Record Low of $3.22, Marking 89% Drop Post-IPO

The exchange's public equity hit an all-time low despite revenue growth, as six-month losses topped $216 million.

## At a glance

- **What happened:** Gemini stock settled at a record low closing price of $3.215 on Monday, down approximately 89% from its $28 IPO offering price.
- **Why it matters:** Despite an increase in revenue to $95.7 million for the first half of 2026, persistent six-month comprehensive losses of $216.8 million weighed on equity valuation.
- **Who is affected:** Gemini, its public shareholders, and executive leadership including Tyler and Cameron Winklevoss.
- **What's next:** No next step announced.
- **Primary source:** [Gemini stock reaches record low, down 89% since IPO](https://protos.com/gemini-stock-reaches-record-low-down-89-since-ipo/) — protos.com

## Key points

- Gemini stock dropped to an all-time low closing price of $3.215 on Monday, down 89% from its $28 IPO price.
- First-half 2026 revenue climbed to $95.7 million from $68.6 million in H1 2025, but the firm posted a comprehensive loss of $216.8 million.
- The SEC dropped its investigation into Gemini under the second Trump administration following major donations from the Winklevoss brothers.

## Editorial remark

- **Context:** Gemini went public at $28 per share, backed by the Winklevoss twins, but has struggled to achieve profitability despite year-over-year revenue gains.
- **Impact:** Public equity investors in Gemini face steep capital losses as structural comprehensive deficits outweigh top-line growth and the closing of regulatory probes.
- **Watch:** Gemini's upcoming quarterly financial disclosures to monitor whether cost-cutting measures or trade volumes can narrow recurring multi-hundred-million-dollar losses.

Cryptocurrency exchange Gemini saw its public equity drop to a record low closing price of $3.215 on Monday, representing an approximate 89% slump from its initial public offering price of $28 [1].

The price decline occurred despite Gemini posting an increase in top-line growth [1]. According to the exchange's most recent quarterly 10-Q filing, revenue reached $95.7 million during the first half of 2026 [1]. That figure rose from $68.6 million generated over the corresponding six-month period in 2025 prior to its market debut [1]. However, bottom-line operations continued to drag heavily on performance: Gemini posted a comprehensive net loss of $216.8 million across the first half of 2026, narrowing from a $277.3 million comprehensive loss logged over the equivalent timeframe a year earlier [1].

## Executive Realignment and Political Ties

The equity drop follows recent corporate leadership additions, including the appointment of Dan Chen, formerly a director of FTX-linked Deltec, as Gemini's chief financial officer [1]. Concurrently, Gemini leadership—led by co-founders Tyler Winklevoss, the exchange's chief executive, and Cameron Winklevoss, its president—has leaned into political activity surrounding the second administration of President Donald Trump [1]. 

The founders directed substantial contributions to political entities including Make America Great Again Inc., MAGA Inc., and the Trump 47 Committee [1]. Under the Trump-era Securities and Exchange Commission, regulators subsequently discontinued an investigation into Gemini [1]. Despite the resolution of that regulatory scrutiny and improved year-over-year revenue generation, the exchange's stock valuation remains under intense sustained pressure [1].

## Sources

1. [Gemini stock reaches record low, down 89% since IPO](https://protos.com/gemini-stock-reaches-record-low-down-89-since-ipo/) — protos.com, 2026-10-20

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai