Analysts see 400% upside for GEMI as Gemini’s overseas exit may speed profitability

Mizuho analysts, Dan Dolev and Alexander Jenkins, believe Gemini's decision to exit operations in the UK, EU, and Australia, while cutting staff by 25% to focus on the U.S. and Singapore, is a "margin-accretive" move that will speed up its path to profitability. The shift targets clearer regulatory environments and stronger institutional demand, allowing for more efficient resource redeployment. Mizuho maintained an Outperform rating with a $26 price target, noting that profitability has been a key criticism of the exchange. A bull-case scenario, driven by stronger user growth and quicker profitability, could push shares toward $43, representing over 400% upside from current trading levels. This positive outlook contrasts with generally divided sentiment toward crypto exchanges, though Gemini's U.S. expansion, including CFTC approval for prediction markets, is seen as a core area for growth.

(Source：The Block)