Mizuho cuts Gemini price target to $12 from $26

Global securities firm Mizuho has lowered its price target for cryptocurrency exchange Gemini to $12. The new target represents a cut of more than 50% from the $26 price target it set in February. Mizuho stated that a bearish outlook for cryptocurrencies, combined with declining trading volumes across exchanges, is likely to impact the company's short-term revenue growth.