- Gemini launched commission-free stock trading for U.S. customers, moving beyond cryptocurrencies.
- The expansion puts it in direct competition with Coinbase, Kraken and Cash App in equities trading.
- Gemini’s stock has fallen nearly 90% from its post-IPO high and almost 60% so far this year.
Gemini (GEMI) shares dropped over 6% on Tuesday after the company announced commission-free stock trading for U.S. customers, now available directly in its app. The move places the Winklevoss-led exchange in direct competition with Coinbase, Kraken and Block’s Cash App, all of which have expanded into equities. “We started with crypto and are expanding to stocks so that customers can manage their entire financial lives right from the Gemini app,” said co-founder Cameron Winklevoss. Nasdaq will provide real-time market data, while Apex Clearing Corporation acts as custodian and clearing broker, according to the company. The launch follows Gemini’s Q4 2025 letter flagging equities as a priority for its “Gemini 2.0” shift. However, the stock remains under pressure, down nearly 90% from its post-IPO high and almost 60% year-to-date, according to data from TradingView. Bitcoin’s pullback below $63,000 and broader market weakness also weighed on crypto stocks, with Coinbase and Block shares declining. Retail sentiment on Stocktwits around Gemini stayed bullish despite the drop.
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