Gemini Space Station stock crashes below IPO price after Fed decision

The stock of Gemini Space Station continued its decline following the Federal Reserve's decision to cut rates by 25 bps, decreasing by 1.28% to $24.35. 1-hour period, the stock closed down 2.47%, but at its lowest point, it had fallen as much as 4.3% intraday.

The exchange has fallen well below its IPO price of $28 and lost all initial gains in shares since debuting as a publicly traded company. This week, the stock has fallen by more than 10% for a newly listed company now valued at around $3 billion amid weaker performance in crypto stocks overall.

Its largest U.S. publicly traded competitor, Coinbase Global Inc., fell as much as 2.3%, while Bitcoin also fell nearly 2%. The S&P 500 and Nasdaq 100 indexes traded lower in advance of the Fed's decision, which was the first rate cut of the year.

Gemini was founded in 2014 by Cameron and Tyler Winklevoss and is reportedly handling over $21 billion in assets, according to a filing with the U.S. Securities and Exchange Commission.Gemini Space Station stock sinks 2.47% to $24.05. Source: SoSoValue

The company has a crypto exchange, staking, digital custody, and a crypto rewards credit card. In 2021, Gemini raised money with a valuation of $7.1 billion, and Nasdaq Inc. invested $50 million through a private placement tied to its IPO.

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The Winklevoss twins, who have been bullish about Bitcoin for years, once claimed the cryptocurrency would trade at $1 million per coin in as little as ten years, dubbing it "gold 2.0." In 2015, when Gemini was launched, Bitcoin traded around $380, and today it trades around $115,100, so it has increased 30,000%.

Related: What are yield coins? Yield bearing assets explained

New pro-crypto PAC

In addition to crypto, the brothers are still politically engaged. Both have backed President Donald Trump and have donated to the pro-crypto Political Action Committee (PAC).

Story Continues

On Sep 17, the Winklevoss twins, along with World Liberty Financial, joined hands to introduce the Digital Freedom Fund PAC to further back President Trump's efforts.

Edited by:Mehab Qureshi

This story was originally reported by TheStreet on Sep 17, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.

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