Here's Why Gemini Space Station Stock Crashed This Week

Shares in cryptocurrency exchange and custodian bank Gemini Space Station (NASDAQ: GEMI) declined by19.7% in the week to Friday morning. The decline comes as the company is embarking on a fundamental restructuring of its business. Here's the lowdown.The following chart tells part of the story. The collapse in cryptocurrency prices (Bitcoin and Ethereum are the two most important supported cryptocurrencies for Gemini) has coincided with a decline in Gemini's stock price. While it's easy to show a price chart that looks like the coastline of Scotland, the reality is that Gemini's exchange transaction revenues are likely to suffer when cryptocurrencies fall.In addition, lower cryptocurrency prices reduce the dollar value of assets it has in custody, which will put pressure on its custodial fees. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool