# EDGAR Filing Document

**Accession Number:** 0002055592
**File Stem:** 0000000000-25-009283
**Filing Date:** 2025-8
**Character Count:** 8700
**Document Hash:** e0fea2193949f07b88f4ea811c780f06
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000000000-25-009283.hdr.sgml**: 20260114

**ACCESSION NUMBER**: 0000000000-25-009283

**CONFORMED SUBMISSION TYPE**: UPLOAD

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250828

**FILED FOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gemini Space Station, Inc.
- **CENTRAL INDEX KEY:** 0002055592
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 09 Crypto Assets
- **EIN:** 000000000
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** UPLOAD
- **SEC FILE NUMBER:** 377-07728

**BUSINESS ADDRESS:**
- **STREET 1:** 600 THIRD AVENUE, 2ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
- **BUSINESS PHONE:** (646) 751-4401

**MAIL ADDRESS:**
- **STREET 1:** 600 THIRD AVENUE, 2ND FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10016
**PUBLIC REFERENCE ACCESSION NUMBER**: 0001104659-25-013949

## Text-Extract

```

                                                             August 28, 2025

Tyler Winklevoss
Chief Executive Officer
Gemini Space Station, Inc.
600 Third Avenue, 2nd Floor
New York, NY 10016

       Re: Gemini Space Station, Inc.
           Registration Statement on Form S-1
           Filed August 15, 2025
           Amendment No. 1 to Registration Statement on Form S-1
           Filed August 21, 2025
           File No. 333-289665
Dear Tyler Winklevoss:

       We have reviewed your registration statement and have the following
comments.

        Please respond to this letter by amending your registration statement
and providing
the requested information. If you do not believe a comment applies to your
facts and
circumstances or do not believe an amendment is appropriate, please tell us why
in your
response.

       After reviewing any amendment to your registration statement and the
information
you provide in response to this letter, we may have additional comments.

Form S-1 filed August 15, 2025 and Form S-1/A filed August 21, 2025
General

1.     We note that you have added a gatefold, which discloses that you have
1.5 million
       lifetime transacting users. Where appropriate in the prospectus, please
briefly discuss
       how you measure lifetime transacting users.
Risk Factors
Our amended and restated articles of incorporation will provide that the Eighth
Judicial
District Court of Clark County, Nevada..., page 80

2.     You disclose that your amended and restated articles of incorporation
will provide
       that, unless you consent in writing to the selection of an alternative
forum, the federal
       district courts of the United States of America sitting in Clark County,
Nevada will be
 August 28, 2025
Page 2

       the exclusive forum for the resolution of any cause of action arising
under the federal
       securities laws of the United States, including any claims under the
Securities Act and
       the Exchange Act. Please direct us to the portion of your amended and
restated articles
       of incorporation that contains this provision.
Use of Proceeds, page 89

3.     We note your disclosure that you may "use the net proceeds to repay all
or a portion
       of [y]our third-party indebtedness, including indebtedness outstanding
under the
       Galaxy Lending Agreement and the Master Repurchase Agreement with NYDIG
       Funding LLC." To the extent a material part of the proceeds will be used
to discharge
       indebtedness, please disclose the interest rate and maturity of such
indebtedness. If the
       indebtedness to be discharged was incurred within one year, describe the
use of the
       proceeds of such indebtedness other than short-term borrowings used for
working
       capital. Refer to Instruction 4 to Item 504 of Regulation S-K.
Capitalization, page 91

4.     Please reconcile for us the amounts shown for indebtedness to your
condensed
       consolidated balance sheet as of June 30, 2025 on page F-65, and how you
determined
       the total amount of capitalization given the amounts shown for
liabilities in the table.
       In this regard, it appears your table excludes the current portion of
related party loans
       in the amount of $618,461. Please advise or revise.
Dilution, page 92

5.     Please present the impact of the offering and the Vested IPO Grants
separately, or tell
       us why these two events should be combined.
Management's Discussion and Analysis of Financial Condition and Results of
Operations
Critical Accounting Policies and Estimates
Stock-Based Compensation, page 120

6.     Once you have an estimated offering price or range, please tell us the
reasons for any
       differences between recent valuations of your common stock leading up to
the IPO
       and the estimated offering price.
Business
Other Ongoing Litigation, page 146

7.     Please disclose the name of the court or agency in which the matter
entitled National
       Association of Consumer Advocates v. Gemini Trust Company, LLC is
pending and
       the date instituted. See Item 103 of Regulation S-K.
Description of Capital Stock
Provisions of our Amended and Restated Articles of Incorporation and Amended
and
Restated Bylaws, page 179

8.     We note that Article XIII of the form of Amended and Restated Articles
of
       Incorporation states that "[t]o the fullest extent not inconsistent with
any applicable
       U.S. federal laws, any and all 'internal actions' (as defined in NRS
78.046) must be
       tried in a court of competent jurisdiction before the presiding judge as
the trier of fact
 August 28, 2025
Page 3

       and not before a jury." Please include a description of this provision
in your
       prospectus and clearly state, if true, that the provision does not apply
to claims under
       the Securities Act and the Exchange Act. Also disclose the risks of the
provision and
       other impacts on shareholders as well as any uncertainty about
enforceability.
Unaudited Condensed Consolidated Financial Statements as of and for the six
months ended
June 30, 2025 and 2024
Note 13. Related Party Loans and Convertible Notes
Term loan, page F-89

9.     Please expand your disclosure to state, if true, that your term loans
are accounted for
       at fair value. In your revised disclosure, clarify the features of the
loan that result in
       fair value accounting and the authoritative literature that supports
your accounting
       conclusions.
Exhibits
Exhibit 5.1, page II-4

10.    Please file a revised legal opinion that separately opines on the shares
of Class A
       common stock subject to the over-allotment option that may be sold by
the selling
       stockholders. In this regard, please note that the opinion should state
that the shares
       are validly issued, fully paid and non-assessable. For guidance, refer
to Section
       II.B.2.h of Staff Legal Bulletin No. 19.
11.    In romanette (v) in the fourth paragraph of the opinion, we note that
counsel has
       assumed that "upon each issuance of Shares, the total number of shares
of Class A
       Common Stock issued and outstanding, together with the total number of
shares of
       Class A Common Stock reserved for issuance or obligated to be issued by
the
       Company pursuant to any plan, agreement or arrangement, or otherwise,
will not
       exceed the total number of shares of Class A Common Stock then
authorized under
       the Company's articles of incorporation." Please obtain and file a
revised opinion that
       does not include this assumption, or tell us why this assumption is
necessary and
       appropriate.

        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence
of action by the staff.

       Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration
statement.
 August 28, 2025
Page 4

       Please contact Kate Tillan at 202-551-3604 or Robert Telewicz at
202-551-3438 if
you have questions regarding comments on the financial statements and related
matters. Please contact David Lin at 202-551-3552 or Irene Paik at 202-551-6553
with any
other questions.

                                                          Sincerely,

                                                          Division of
Corporation Finance
                                                          Office of Crypto
Assets
cc:   Ryan J. Dzierniejko

```

### Attached PDF Documents

**Attachment 1:** `filename1`

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