Gemini’s new IPO filing reveals a massive loss of $282 million in the first half of 2025. To shore up its finances, the exchange has secured a $75 million credit line from its rival, Ripple. The deal comes as the Winklevoss-led company makes a high-stakes gamble on going public. Crypto exchange Gemini is turning to a surprising source for a lifeline as it prepares to go public: its rival, Ripple Labs. The Winklevoss-led exchange has secured a $75 million credit line from Ripple, a deal disclosed in Gemini’s S-1 filing with the SEC that comes as the exchange is grappling with major losses. Details on the Ripple-Gemini Deal According to the filing , Gemini can borrow in increments of $5 million or more under the credit agreement, with interest rates reaching up to 8.5% annually. While the current borrowing cap stands at $75 million, it may be increased to $150 million subject to certain conditions. Initially, Gemini can only draw in US dollars, but additional borrowing may be denominated in Ripple USD (RLUSD), a stablecoin Ripple launched in December 2024. Related: ‘We’re Nearly Production Ready,’ Ripple CTO as XRP Breaks Key Support The m… The post Gemini’s S-1 Filing Reveals a $282 Million H1 2025 Loss and a $75M Ripple Credit Line appeared first on Coin Edition .
