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- Gemini has confidentially filed for an IPO, signaling confidence in crypto’s mainstream acceptance.
- The SEC closed its two-year investigation into Gemini, and the exchange settled a $5M lawsuit with the CFTC.
- The White House hosted a Crypto Summit, reflecting growing institutional and political support for digital assets.
Gemini, the cryptocurrency exchange Cameron and Tyler Winklevoss founded, has taken a significant step toward going public. According to a Bloomberg report, the firm has confidentially filed for an initial public offering (IPO), signaling a new chapter in its evolution.
Gemini reportedly collaborates with major financial institutions, including Goldman Sachs and Citigroup, and is preparing for a potential stock market debut later this year. While no final decision has been made, the move suggests a growing confidence in the crypto sector’s mainstream acceptance.
This IPO filing follows a crucial regulatory milestone for Gemini. Just weeks ago, the U.S. Securities and Exchange Commission (SEC) officially closed its nearly two-year investigation into the exchange. The prolonged probe had posed a substantial challenge, leading to significant legal costs and operational roadblocks. Cameron Winklevoss acknowledged the resolution on social media in February, calling it a positive step for the platform.
Beyond the SEC investigation, Gemini reached a $5 million settlement with the Commodity Futures Trading Commission (CFTC) in January, resolving a lawsuit hanging over the company. These developments indicate a shifting regulatory climate increasingly accommodating crypto firms seeking public listings.
The regulatory winds are changing under President Donald Trump’s administration. This week, the White House hosted a Crypto Summit, where approximately 30 industry leaders, including the Winklevoss twins, gathered to discuss the future of digital assets. The administration’s stance, including creating a Strategic Bitcoin Reserve, has fueled optimism among investors and industry players.
The Crypto IPO Wave Gains Momentum
Gemini is not alone in its pursuit of a public listing. Kraken, another major cryptocurrency exchange, is reportedly planning its IPO in early 2026. Meanwhile, firms like Bullish and Blockchain.com are also preparing for potential U.S. listings.
Adding to the momentum, social trading platform eToro has confidentially submitted an IPO registration to the SEC, aiming for a $5 billion valuation with a planned listing by mid-2025. Backed by financial heavyweights like Goldman Sachs, Jefferies, and UBS, eToro’s move highlights the increasing interest in public markets among crypto firms.
Stablecoin issuer Circle, responsible for USD Coin (USDC), has filed confidential IPO paperwork with the SEC and is awaiting regulatory approval. Meanwhile, Ripple, the company behind XRP, has signaled its intent to go public, though its ongoing legal battle with the SEC could push its listing beyond 2025.
With regulatory uncertainties easing and institutional confidence growing, the crypto industry is witnessing a wave of IPO activity. The public market is becoming increasingly attractive for digital asset companies looking to expand their footprint.
As Gemini takes its first steps toward going public, its journey could set a precedent for other crypto firms navigating the intersection of digital assets and traditional finance. Gemini’s IPO could mark a defining moment in the industry’s mainstream integration.
Related | Trump to Host White House Crypto Summit at Scheduled Time
