Gemini, the cryptocurrency exchange co-founded by the Winklevoss twins, Tyler and Cameron, is reportedly gearing up for an initial public offering (IPO). According to sources familiar with the matter, Bloomberg has reported that Gemini is collaborating with investment banking giants Goldman Sachs and Citigroup to confidentially file for an IPO.
While discussions are ongoing and no final decision has been reached regarding the IPO, an IPO typically involves investment banks underwriting the offering and facilitating the listing of shares on stock exchanges. Last month, the U.S. Securities and Exchange Commission (SEC) concluded its investigation into Gemini, signaling the end of regulatory scrutiny for the exchange. In a letter to Gemini’s lawyer, Jack Baughman, the SEC announced the closure of the investigation without any further enforcement actions against the platform.
Cameron Winklevoss commented on the SEC’s withdrawal, calling it a milestone in ending the SEC’s "war on crypto." However, he emphasized that the damage caused by the agency, including significant legal costs and lost productivity, innovation, and creativity, cannot be overlooked.
As Gemini moves forward with its IPO plans, the crypto community eagerly anticipates the exchange’s next steps in the public market. Stay tuned for more updates on Gemini’s journey towards going public.
For more crypto news and insights, subscribe to our email alerts and follow us on social media platforms like Twitter, Facebook, and Telegram. Stay informed and engaged with the latest developments in the crypto space.
Generated Image: Midjourney