Gemini’s -60% post-IPO crash: the most asymmetric risk/reward setup in digital assets today? 🤔; Mollie seals GoCardless takeover, creating European payments powerhouse to rival Stripe and Adyen 💳🌍

FinTech is Eating the World, 11 December

Hey Everyone,

Good morning & happy Thursday! Today’s issue is super interesting as we’re diving deep into Gemini to see if it’s the most interesting & appealing public stock in digital assets today (breaking down’t their 3Q 2025 financials, understanding what they mean & what’s next for Gemini + bonus deep dives into Coinbase, Robinhood & eToro inside), and Mollie, which is about to acquire GoCardless to create European payments powerhouse (what it’s all about & why it makes a ton of sense + bonus dive into Stripe’s recent M&A game, and how they want to own the full AI payments stack). So let’s just jump straight into the fascinating stuff 🌶️

Gemini’s -60% post-IPO crash: the most asymmetric risk/reward setup in digital assets today? 🤔

Following the money 💸 Gemini Space Station, Inc., or just Gemini GEMI 0.00%↑ has collapsed nearly 60% from its $28 IPO price to just ~$11 in just 3 months, creating what likely appears to be a contrarian opportunity in digital asset infrastructure.

The Q3 2025 results reveal a business generating genuine momentum, but they are also hemorrhaging cash at a rate that demands solid attention before deploying any capital.

So let’s dive deeper into this, break down their latest financials, understand what they mean, and ultimately see whether Gemini is worth your time and money now (or never).