Gemini's stock price fell below the issuance price of $28 on Wednesday, with a market capitalization evaporating to $2.9 billion.

PANews September 18 news, according to Zhitong Finance, the price of the cryptocurrency exchange Gemini Space Station (GEMI.US) owned by the Winklevoss brothers continued to decline on Wednesday, falling below the IPO issuance price of $28 just a few days after going public in the U.S., with the current stock price closing at $24.53, a single-day decline of 12.8%, and the current market capitalization is $2.9 billion. The company officially logged in to the U.S. stock market on September 12, experiencing a significant rise on the first day of trading, but has since faced continuous pressure. It is noteworthy that SEC documents revealed that on Monday, Gemini's Chief Legal Officer Tyler Meade and Chief Operating Officer Marshall Beard reported multiple instances of insider stock trading.