Gemini stock hits record low, down 89% from IPO; exchange says Bitcoin reclaimed $84,000
Gemini shares closed at $3.215, an 89% drop from the $28 IPO price, while the exchange separately announced Bitcoin had reclaimed $84,000.
Why it matters
The share price collapse signals investor skepticism despite revenue growth, while the political ties and SEC investigation drop raise governance questions. The Bitcoin price tweet is a routine market update with limited significance.
Key facts
Gemini stock reached a record low closing price of $3.215 on Monday, an approximately 89% decline since its IPO offered at $28
3.215 USDReported by Protos
Dan Chen, director of FTX-linked Deltec, joins Gemini as CFO
Reported by Protos
Tyler Winklevoss, Gemini's CEO, and Cameron Winklevoss, its president, have both tied themselves tightly to President Donald Trump for this second term, including large donations to the Trump 47 Committee, Make America Great Again Inc., and MAGA Inc.
Reported by Protos
The Trump-administration SEC dropped its investigation into Gemini
Reported by Protos
Gemini announced that Bitcoin has reclaimed $84,000 in a tweet shared on October 21, 2026
84,000 USDReported by Crypto News (CryptoNews.net)
What happened
Protos reported Gemini's stock reached a record low closing price of $3.215 on Monday, an approximately 89% decline since its $28 IPO. The exchange's 10-Q showed first-half 2026 revenue of $95.7 million versus $68.6 million a year earlier, with a comprehensive loss of $216.8 million compared with $277.3 million in 2025. Dan Chen, formerly of FTX-linked Deltec, joined as CFO. The Winklevoss brothers have made large donations to Trump-aligned committees, and the Trump-era SEC dropped its investigation into Gemini. A day later, Gemini tweeted that Bitcoin had reclaimed $84,000, a post that garnered 16 likes and 2 replies. Crypto News syndicated the tweet announcement. The two reports cover separate developments: the equity decline and a market commentary tweet.
How the story developed
- First report
First report by Protos
Gemini stock reaches record low, down 89% since IPO
- Update
Protos reports Gemini stock hits record low, down 89% from IPO
Stock closed at $3.215; 10-Q shows revenue growth but large losses; CFO hire and political ties noted
- Official statement
Gemini tweets Bitcoin has reclaimed $84,000
Official tweet posted; engagement at 16 likes and 2 replies
- Update
Crypto News syndicates Gemini's Bitcoin price tweet
Aggregator republishes the announcement with market context
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 20 Oct 2026, 16:11 UTC: Protos — 1 independent source, 1 reports
- 21 Oct 2026, 18:44 UTC: Crypto News (CryptoNews.net) — 2 independent sources, 2 reports
Affected entities
Also mentioned: United States
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| Protos Crypto media | Gemini stock reaches record low, down 89% since IPO | Original | |
| Crypto News (CryptoNews.net) Aggregator | $84,000: Gemini Confirms Bitcoin’s Recovery | Syndicated |
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