The cryptocurrency brokerage Gemini, based in New York, announced this Friday (6) that it has filed a request with the U.S. Securities and Exchange Commission (SEC) to conduct an initial public offering (IPO).
The company stated in a press release that it has confidentially submitted a draft registration statement on Form S-1 to the SEC, signaling its intention to go public soon.
The exchange is led by billionaires Cameron and Tyler Winklevoss, twin brothers known in the cryptocurrency world for betting early on Bitcoin, which boosted their fortune. They are also famous for being involved in the early days of the creation of Facebook.
Gemini's move comes one day after Circle's shares — the issuer of the USDC stablecoin — began trading on the New York Stock Exchange. The CRCL stock quadrupled in value during Friday's trading.
Several large companies in the crypto sector are eyeing an IPO, inspired by the path taken by Coinbase, the leading brokerage in the United States, which debuted on the stock market in 2021 — especially now, with a president more favorable to the sector in charge of the country.
The new administration of Donald Trump has been promoting changes in the SEC's approach, which has filed high-profile cases against companies in the digital asset sector. The Wall Street regulator stated that it intends to adopt a more collaborative stance to keep up with the rapid evolution of the industry.