Gemini's stock price fell below its IPO price of $28 on Wednesday, wiping out its market capitalization to $2.9 billion.

Shares of Gemini Space Station (GEMI.US), a cryptocurrency exchange owned by the Winklevoss brothers, continued their decline on Wednesday, falling below their IPO price of $28 just days after listing in the United States. The current share price closed at $24.53, a single-day drop of 12.8%, with a current market value of $2.9 billion.