Gemini Reportedly Planning to Take Crypto Firm Public
Cryptocurrency firm Gemini has reportedly filed confidentially for an initial public offering (IPO).
The company, headed by the billionaire twin brothers Cameron and Tyler Winklevoss, is working with banks on the IPO, Bloomberg News reported late Friday (March 7), citing sources familiar with the matter.
The news follows reports from last month that Gemini was considering a listing. Also in February, Cameron Winklevoss announced in a post on X that the U.S. Securities and Exchange Commission (SEC) had closed an investigation in the company.
According to Bloomberg, the brothers were among roughly 30 crypto company executives and agency heads in attendance at the White House Digital Assets Summit Friday.
The Trump administration, as that report noted, has embraced crypto, setting the stage for more companies within that sector to go public. Other companies considering IPOs include Kraken and the trading platform eToro.
Kraken, like Gemini and other crypto companies, has said that the SEC has withdrawn its legal action against the company.
As PYMNTS wrote last week, the White House crypto summit was focused more on the industry declaring victory than on crypto regulation, though Trump did say he hoped lawmakers would have something for him to sign before their August recess.
“No one in this room could have imagined this two years ago. It is amazing how far we’ve come” was the theme of the opening remarks by many industry figures in attendance.
“The U.S. won the internet, and the U.S. should win crypto as well,” Tyler Winklevoss said.
Also Friday, Treasury Secretary Scott Bessent said he is a “big proponent of the U.S. taking the worldwide lead in crypto,” an idea that was the overall theme of Friday’s summit. Popular rumors around topics like the U.S. removing capital gains taxes on crypto were not addressed during the summit.
Meanwhile, as the U.S. looks to “win” with crypto, at least one Trump-affiliated company is already celebrating a victory. The entities that created the $TRUMP meme coin have made at least $350 million in the three weeks after its launch, as covered Friday. Aside from earning $314 million from token sales and $36 million from fees on the Solana blockchain, the entities have likely made more money from tokens offered on cryptocurrency exchanges.
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