Gemini Exchange Founded by Winklevoss Twins Has SEC Case Dismissed After Full Asset Recovery
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Yahoo Finance
- Case Dismissal: The SEC agreed to dismiss its enforcement case against the Gemini exchange founded by the Winklevoss twins after investors in its lending program fully recovered their assets, indicating a shift in regulatory stance towards the cryptocurrency market.
- Asset Recovery: Gemini Earn investors received a 100% return of their crypto assets through the Genesis Global Capital bankruptcy process between May and June 2024, demonstrating the exchange's strong asset management capabilities and boosting market confidence.
- Changing Market Environment: Under President Trump, the SEC has adjusted its approach to crypto enforcement, promising to promote mainstream use of digital currencies, which could create a more favorable regulatory environment for platforms like Gemini and support their business growth.
- Company Valuation: Gemini is currently valued at $1.14 billion according to LSEG data, reflecting its strong debut on Nasdaq and renewed optimism among institutional investors regarding digital assets, further solidifying its market position.
Analyst Views on GEMI
Wall Street analysts forecast GEMI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for GEMI is 18.78 USD with a low forecast of 11.00 USD and a high forecast of 26.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
9 Analyst Rating
6 Buy
3 Hold
0 Sell
Moderate Buy
Current: 10.070
Low
11.00
Averages
18.78
High
26.00
Current: 10.070
Low
11.00
Averages
18.78
High
26.00
About GEMI
Gemini Space Station, Inc. is a holding company. The Company, through its subsidiary, Gemini Space Station, LLC, offers a mobile and Web-based crypto asset exchange platform, proprietary wallet infrastructure and custody solutions, high-performance over-the-counter trading solutions tailored to institutions and professionals, a digital art auction platform, a proprietary United States dollar backed stablecoin, and a credit card product that offers crypto asset rewards on customer purchases. The Company operates globally and provides security solutions across all of its product offerings. Its platform simplifies and secures the process of buying, selling, storing, staking, and collecting digital assets. It provides accessible and straightforward educational resources to help its users understand the intricacies of crypto assets. Its Gemini Credit Card, an innovative credit card made available by Gemini, allows users to earn and grow crypto rewards every time they swipe.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
