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NewsCryptocurrencies

Crypto platform Gemini falls as Mizuho flags weaker exchange activity

ReutersMar 23, 2026 2:40 PM

Shares of crypto platform Gemini Space Station GEMI.O, founded by billionaire twins Tyler and Cameron Winklevoss, down 3.18% to $5.78

Mizuho cuts PT on GEMI to $12 from $26, citing softer outlook for trading activity, which offsets continued strength in Gemini's card and services businesses

"While card momentum remains a bright spot, near-term revenue growth could be constrained by a softer outlook for asset prices and lower transaction volumes across the core exchange," brokerage says

Separately, GEMI on last Thursday was sued by shareholders who said they were defrauded about the cryptocurrency exchange's business prospects

Three of 10 analysts rate stock "buy", six "hold" and one "strong sell"; their median PT is $9 - data compiled by LSEG

Including session's move, GEMI down 42% YTD

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