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Gemini, backed by Winklevoss twins, taps Goldman Sachs and Citigroup to explore IPO

Gemini, the cryptocurrency exchange and custodian founded by billionaire twins Cameron and Tyler Winklevoss, has confidentially filed for an initial public offering (IPO), according to a Bloomberg report.

The company is working with Goldman Sachs Group Inc. and Citigroup Inc. to explore the listing, which could take place as soon as this year.

The move follows the resolution of regulatory issues, including the closure of a U.S. Securities and Exchange Commission investigation into the exchange, as noted by Cameron Winklevoss in a February post on X (formerly Twitter).

Earlier this year, Gemini paid $5 million to settle a lawsuit with the Commodity Futures Trading Commission, a January filing showed.

In February, the Winklevoss, brothers were in discussions with bankers about a potential listing, though no final decision had been made at the time.

Today, the deliberations are still ongoing.