Key Highlights:
- Gemini, a crypto exchange established by the Winklevoss twins, has confidentially initiated an IPO process, with Goldman Sachs and Citigroup assisting.
- This move follows the SEC’s decision to conclude its investigation into Gemini without any enforcement action and a $5 million settlement of a different lawsuit from the CFTC.
- Gemini is now part of a trend among several crypto companies, such as Kraken and Circle, exploring U.S. public listings amid a decrease in aggressive SEC litigation.
Recently, Bloomberg reported that Gemini is preparing for an initial public offering (IPO), citing insiders. The Winklevoss twins, who founded the firm, are collaborating with Goldman Sachs and Citigroup, although no final decision on the listing has been announced.
The news of the potential IPO emerges after the SEC formally ended its investigation into Gemini, alongside a $5 million settlement from the CFTC earlier this year.
The IPO potential arrives as multiple other crypto companies consider listing in the U.S., signaling a shift in the regulatory landscape. Notably, Kraken has plans for an IPO by early 2026, joining the list of crypto firms aiming for a public offering.
