[Mizuho Significantly Lowers Gemini's Target Price Due to Weak Trading Dragging Core Business] Odaily Planet Daily News – Investment bank Mizuho has significantly reduced the target price of cryptocurrency trading platform Gemini from $26 to $12, a drop of over 50%, primarily due to weak trading performance offsetting the benefits of growth in its credit card business. Analysts Dan Dolev and Andrew Jenkins pointed out that the weakening of cryptocurrency prices and a decline in platform trading volume are expected to limit Gemini's short-term revenue growth. Although the company's card business continues to expand, it is not sufficient to compensate for the decline in its core trading business. The report also mentioned that Gemini's revenue structure is undergoing changes, with service-related income expected to account for nearly half of total revenue. Additionally, the compression of overall exchange valuation multiples has also contributed to the target price reduction. Market data shows that Gemini's stock price previously hit a historic low of $5.50 before slightly rebounding.