Gemini files for IPO with SEC as crypto firms seek access to traditional financial markets.
Winklevoss twins prepare Gemini for public listing after resolving major regulatory issues.
Gemini joins Circle and CoreWeave in the crypto IPO wave as investor demand for digital assets grows.
Gemini, a cryptocurrency exchange, has filed its initial public offering confidentially with the U.S. Securities and Exchange Commission. The filing on SEC Form S-1 permits Gemini to prepare for an IPO while keeping important financial information confidential.
https://twitter.com/nypost/status/1931072305192415287 IPO Filing Follows Surge in Crypto Market Activity
The move follows a spike in investor confidence in crypto firms. Gemini’s submission came one day after Circle’s successful debut on the New York Stock Exchange. Circle’s share price surged nearly 170% on its first trading day and continued rising the next day. That rally has reignited IPO interest in crypto-focused companies.
Gemini’s decision signals a fresh push by the firm to join public markets amid improved conditions. The exchange has not yet disclosed how many shares it plans to offer or the expected pricing range. The company also has not revealed a date for the IPO.
Regulatory Clearance and Market Timing Remain Key
Gemini emphasized that any public listing depends on market conditions and regulatory clearance. The SEC must review and approve the registration before trading begins. Filing confidentially allows the company to adjust its plans without public scrutiny.
Earlier this year, Gemini settled a $5 million case with the Commodity Futures Trading Commission. The company also resolved an SEC investigation tied to its "Earn" program. These resolutions helped remove major legal obstacles ahead of the IPO.
Winklevoss Twins Bet on Public Markets
Since its founding by Cameron and Tyler Winklevoss in 2014, Gemini has played an important role in the crypto market. In 2021, the company managed to raise $400 million, resulting in a valuation of $7.1 billion. The company is estimated to have had 1,000 employees in 2022 which reduced to less after the crypto market crash.
The Winklevoss twins have continued to support industry-friendly policies. They also backed political candidates who favor lighter crypto regulation. Their involvement in the political space reflects their long-term bet on digital assets and Wall Street integration.
Gemini Joins List of Crypto Firms Seeking IPOs
Gemini joins a growing list of crypto companies aiming to go public. Stablecoin issuer Circle and cloud service provider CoreWeave recently completed successful IPOs. CoreWeave’s stock rose 158% last month alone, indicating strong investor appetite.
The company has retained the services of Goldman Sachs and Citigroup as its financial advisors. This decision shows that the company aims to gain more institutional investment. If approved, the IPO would move the sector further into normal financial acceptance.