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Gemini Files for IPO with $18B in Assets, Winklevoss Twins Retain Control
Gemini Files for IPO with $18B in Assets, Winklevoss Twins Retain Control
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BTCCSquare news:
Cryptocurrency exchange Gemini has filed for an initial public offering, seeking to list on the Nasdaq under the ticker GEMI. The Winklevoss twins will maintain majority control through a dual-class share structure that grants their Class B shares tenfold voting power.
Goldman Sachs, Morgan Stanley, and Citigroup are leading the offering. Gemini reports 500,000 monthly active users and $18 billion in custody assets, positioning itself as a gateway for institutional crypto adoption.
The filing highlights $800 billion in lifetime transfers but omits recent $440 million losses. This MOVE signals growing institutional validation for digital assets, though governance concerns linger with founder-controlled voting.
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