Gemini crypto exchange is exploring an initial public offering (IPO), according to Bloomberg.
The company, which was founded by billionaire twins Tyler and Cameron Winklevoss, has begun discussions with potential advisors and could proceed with the listing this year, though no final decision has been made.
The development comes amid a resurgence in the crypto market, fueled in part by former President Donald Trump’s pro-crypto stance. Trump has pledged to make the United States the "crypto capital of the world" if re-elected, leading to increased interest in public listings among industry firms. Cameron and Tyler Winklevoss have also shown support for Trump, donating Bitcoin to his campaign, though contributions exceeding legal limits were refunded.
Gemini crypto exchange is not alone when considering an IPO. Bullish Global, a crypto exchange backed by billionaire investor Peter Thiel, is also evaluating a public listing as early as this year, Bloomberg reported.
Headquartered in New York, Gemini operates globally with offices in Seattle, Singapore, London, Dublin, and Gurgaon, India. The company currently employs more than 500 people.
However, Gemini has faced regulatory challenges, including a $5 million settlement with the Commodity Futures Trading Commission (CFTC). The lawsuit accused the exchange of misleading regulators in its efforts to launch the first U.S.-regulated Bitcoin futures contract. It settled without admitting or denying liability.