Crypto Exchange Gemini Files to Go Public Following Circle’s Smash IPO

Crypto exchange Gemini announced that it’s planning to go public.

The New York-based company said in a press release Friday that it confidentially filed a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering.

Gemini did not immediately respond to Decrypt‘s request for comment.

The exchange is run by billionaire twins Cameron and Tyler Winklevoss. The two are famous in the crypto world because of their early bet on Bitcoin that boosted their wealth. They’re also well-known for playing a role in the creation of Facebook.

Gemini’s move came one day after shares for USDC issuer Circle began trading on the New York Stock Exchange, with the price of CRCL quadrupling its offering price in Friday trading.

A number of top crypto companies are hoping to follow in the footsteps of Coinbase, America’s biggest crypto exchange, which went public in 2021—especially now with a crypto-friendly president in the White House.

The new Trump administration’s SEC has scrapped a number of high-profile lawsuits against firms in the digital asset space, with the Wall Street regulator saying it will take a more collaborative approach to managing the fast-moving industry.

Editor’s note: This story was updated after publication with additional details.

Edited by Andrew Hayward