Cameron and Tyler Winklevoss' company, Gemini, is considering an IPO in 2023. Their rigorous regulatory approach and new crypto initiatives under Trump's administration have significantly influenced this consideration.
Gemini's IPO Discussions
According to Bloomberg, Gemini is in talks with advisors about an IPO that might take place this year. Gemini operates as both a crypto exchange and a custodian, known for its stringent regulatory approach, and stands as one of the few US-based exchanges competing with global giants like Binance and Coinbase.
Regulatory Challenges Faced by the Company
Gemini has previously encountered regulatory issues. In December 2024, the company agreed to pay a $5 million settlement with the Commodity Futures Trading Commission (CFTC). The regulator alleged that the company provided misleading information during an attempt to launch the first US-approved Bitcoin futures contract. Gemini also had to return $1.1 billion to customers last year as part of the bankruptcy proceedings for Genesis Global Capital, a program tied to their high-returning Gemini Earn initiative.
Other Companies Following the Trend
Following Gemini's move, companies like Peter Thiel's Bullish Global and Tether are also considering IPOs. Both companies have provided financial support to Donald Trump's campaign and hope he will fulfill his promises to the industry.
Gemini's IPO plans highlight the growing interest of the crypto industry in public markets, especially amidst new political initiatives. The public's valuation of this will be revealed in due course.
