Gemini exchange's stock ticker GEMI has plummeted 90% from its September 2025 high, prompting market expert Dom Kwok to warn that the exchange may face bankruptcy this year. Kwok pointed out that multiple class-action lawsuits, executive departures, slowing revenue growth, and accelerating losses are creating a "vicious cycle." He warned that after exhausting its IPO cash reserves, Gemini may need to undertake highly dilutive financing, which would further erode shareholder value. The stock closed at approximately $4.59 per share on Thursday, down 7% for the day.