The Winklevoss brothers' Gemini fell below the $28 issue price on Wednesday, with a market value evaporating to $2.9 billion
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Gemini Space Station's stock price fell below the IPO issuance price of $28 just a few days after its listing in the United States, closing at $24.53 on Wednesday, a single-day decline of 12.8%, bringing its market value down to $2.9 billion. The company went public on September 12, initially seeing a significant rise on its first day of trading, but has since faced continued pressure. Meanwhile, Coinbase also dropped by 2.2%. The Federal Reserve announced a 25 basis point rate cut, with the market expecting more cuts to follow. Gemini was founded by the Winklevoss brothers in 2014 and manages assets exceeding $21 billion
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