Gemini, the crypto exchange founded by the Winklevoss twins, has quietly filed for an initial public offering (IPO), according to a Bloomberg report. If all goes as planned, the company could go public as early as this year.
This move comes at a critical time for the crypto industry, with regulatory pressures easing and major firms eyeing public listings. But what led to this decision, and why now?
Billionaire brothers Cameron and tyler winklevoss
The move comes shortly after the U.S. Securities and Exchange Commission (SEC) dropped its investigation into Gemini without taking enforcement action. The company also recently settled a $5 million lawsuit with the Commodity Futures Trading Commission (CFTC).
The SEC began investigating Gemini nearly two years ago over concerns that its “Earn” program offered unregistered securities. The program allowed users to lend their crypto in exchange for interest, raising regulatory questions about whether it violated securities laws.
Following the SEC’s decision to close the case, Cameron Winklevoss criticized the agency’s actions on X (formerly Twitter), saying its retreat “does little to make up for the damage this agency has done to us, our industry, and America.”
The SEC has also recently ended investigations into Uniswap, Robinhood, and OpenSea. In addition, it has paused litigation against the Tron Foundation and its founder, Justin Sun, similar to its legal shifts in cases against Coinbase and Binance.
Gemini is one of several crypto firms preparing for public listings as regulatory pressure eases. Kraken is also exploring an IPO, targeting early 2026, while Circle, Bullish, and Blockchain.com are making similar plans for U.S. listings.
The Winklevoss twins, known for their early Bitcoin investments and leadership at Gemini, have been strong advocates for crypto adoption. They are also pushing for the creation of a national Bitcoin reserve.
Trump’s Pro-Crypto Stance Boosts Market Confidence
Cameron and Tyler Winklevoss were among 30 top crypto leaders who attended the White House’s Digital Assets Summit on Friday. With President Trump’s administration showing support for the industry, crypto firms now have more opportunities to go public.
In a bold move, Trump announced plans on Thursday to establish a national Bitcoin reserve and stockpile other cryptocurrencies seized through legal actions. This marks a major shift in how the U.S. government views Bitcoin’s role in the financial system.
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