Gemini Teases IPO After Dropping Confidential SEC Filing—Wall Street Already Salivating
Crypto exchange Gemini just fired the starting gun on its IPO race—with a wink and a nod. The Winklevoss twins' platform quietly filed confidential paperwork with the SEC, signaling ambitions beyond crypto's wild west.
Wall Street's reaction? Predictably frothy. Because nothing gets traditional finance harder than a chance to monetize the very industry they've spent years dismissing.
No numbers yet—just regulatory chess moves and market speculation. But one thing's clear: 2025 might be the year crypto's institutional handshake gets uncomfortably tight.
Gemini set for IPO following SEC filing
Crypto exchange Gemini announced its intention to go public after filing a confidential FORM S-1 statement with the SEC. The company proposed holding an IPO of its Class A common stock, according to a press release issued on Friday.
Due to the nature of the filing, no information regarding the size of the offering or price target has been disclosed. However, these details will be determined following a regulatory review by the SEC, subject to market conditions.
The development follows a Bloomberg report in March, which claimed that Gemini had been working with Goldman Sachs and Citigroup on its IPO after the SEC concluded its investigation into the exchange in February.
Gemini's filing adds to a broader pursuit of a public listing among crypto companies, following regulatory tailwinds that have favored the industry since President Trump's election.
USDC issuer Circle Internet Group listed on the New York Stock Exchange on Thursday under the ticker CRCL. The stock began trading at $69 on Thursday and has risen above $112 after market hours on Friday.
The stablecoin issuer initially raised $1.1 billion from its IPO on Wednesday after selling 34 million shares of its stock.
Similarly, crypto exchange Coinbase joined the S&P 500 in May after replacing Discover Financial Services. The announcement led to a surge in Coinbase's (COIN) stock.
