[Gemini Stock Drops 80% Since Listing, Regulatory Licenses Become Key Acquisition Assets] According to CoinDesk, the stock price of the cryptocurrency platform Gemini Space Station (ticker GEMI) has fallen approximately 80% since its listing, with its market capitalization dropping from a peak of around $4 billion to approximately $753 million. Trading volume, revenue, and platform assets have all declined simultaneously. Gemini's Q2 trading revenue fell 38% year-over-year to $12.5 million, spot trading volume dropped to $3.8 billion, and custodial assets decreased from $18.2 billion to $8.4 billion. Despite the pressure on its trading business, Gemini and its subsidiaries still hold several key regulatory licenses and compliance approvals, which are regarded as core assets for potential acquirers seeking entry into U.S. regulatory compliance.