Gemini, the cryptocurrency exchange and custodian backed by the Winklevoss twins, is reportedly exploring the possibility of an initial public offering (IPO) as early as this year, according to sources familiar with the matter. The firm is in discussions with potential advisers on the listing, though no final decisions have been made.
The discussions come as companies in the crypto space, including Gemini, have accelerated their public listing plans following the election of President Donald Trump, who has become a vocal advocate for digital assets. The Winklevoss twins, known for their legal battle with Facebook’s Mark Zuckerberg, are prominent supporters of Trump and even donated Bitcoin beyond the legal limit to his campaign, later receiving refunds for the excess.
In a similar move, Bullish Global, a crypto exchange backed by billionaire Peter Thiel, is also considering an IPO this year, as reported by Bloomberg News.
Gemini, which operates offices in cities including New York, Seattle, Singapore, London, Dublin, and Gurgaon, India, employs more than 500 people, according to its website.
The firm has faced legal challenges in recent years, including a $5 million settlement with the Commodity Futures Trading Commission (CFTC) to resolve claims it misled the regulator during efforts to launch the first U.S.-regulated Bitcoin futures contract. Gemini also agreed to return at least $1.1 billion to customers involved in the Genesis Global Capital bankruptcy as part of a settlement with New York regulators over its Gemini Earn program.
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