| Key Points: – Gemini exchange has confidentially filed for an IPO, working with Goldman Sachs and Citigroup,. – Other major crypto companies, including Kraken, eToro, Circle, and Ripple, are also planning IPOs, with some awaiting regulatory approval. |
Gemini exchange, the entity founded by Cameron and Tyler Winklevoss, has confidentially filed for an initial public offering (IPO), according to a Bloomberg report.
The company is reportedly working with financial giants Goldman Sachs and Citigroup, with a potential listing expected later this year, though no final decision has been made.
Gemini Exchange Moves Toward Public Listing Following the Closure of the SEC Investigation
The filing comes just weeks after the U.S. Securities and Exchange Commission (SEC) officially closed its nearly two-year investigation into Gemini. The probe, which resulted in significant legal costs for the company, was a major hurdle in its operations.
Cameron Winklevoss acknowledged the SEC’s decision in a February social media post, praising the regulatory clarity as a step forward for the exchange.
Additionally, Gemini exchange recently agreed to pay $5 million to settle a lawsuit with the Commodity Futures Trading Commission (CFTC), as revealed in a January regulatory filing.
The recent developments signal a shift in the regulatory landscape, with several crypto firms exploring public listings amid a more favorable environment under President Donald Trump’s administration.
This week, a Crypto Summit at the White House gathered around 30 industry leaders, including the Winklevoss twins. The administration’s approach to cryptocurrency, including the establishment of a Strategic Bitcoin Reserve, has bolstered market confidence and opened doors for more crypto firms to consider IPOs.
Regulatory Shifts Pave the Way for Crypto Firms’ Expansion
With regulatory uncertainties gradually easing, the IPO sector is witnessing a surge in investor confidence, setting the stage for more digital asset companies to enter public markets.
Gemini exchange is not the only exchange eyeing a public debut. Kraken is also reportedly planning its IPO for early 2026, while firms such as Bullish and Blockchain.com are also preparing for potential U.S. listings.
Additionally, eToro, a well-known trading platform, has confidentially submitted an IPO registration to the SEC, targeting a valuation of $5 billion, with a planned listing by the second quarter of 2025. Backed by major financial players like Goldman Sachs, Jefferies, and UBS, eToro’s move underscores the growing interest in public offerings within the crypto sector.
Circle, the issuer of the USD Coin (USDC) stablecoin, has also filed confidential IPO paperwork with the SEC and is awaiting regulatory approval. Meanwhile, Ripple, the company behind XRP, has expressed interest in going public, though ongoing legal challenges with the SEC may delay its plans beyond 2025.
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