Notably, Gemini reported that customers who held their SOL rewards for at least a year experienced impressive growth, with rewards increasing by 299.1% as of July 27, 2025—one of the best performances among cryptocurrencies available on the platform.
This move, which began on June 23, included partnerships with firms like DeFi Dev Corp., managing over 2 million SOL, and Purpose Investments, a Canadian issuer of a Solana ETF.
The Winklevoss twins’ exchange joins the ranks of other crypto firms that have gone public this year, including Circle (CRCL), the issuer of the second-largest stablecoin (USDC), and Bullish (BLSH), backed by another crypto billionaire Peter Thiel.
As of this writing, GEMI, the cryptocurrency exchange’s stock with a market cap of $2.7 billion, is trading at $20.29. This price is below the company’s initial public offering price of $28.
Similarly, the Solana price has erased nearly all of its year-to-date gains, dropping 20% and 21% in the last fourteen and thirty days, respectively. This leaves SOL with only 17% gains year-to-date and down 36% from all-time high levels.
Featured image from DALL-E, chart from TradingView.com
