Gemini Explores IPO: Crypto Firms Rush to Listings

Gemini Explores IPO Amidst Crypto Listing Surge

Gemini, the cryptocurrency exchange co-founded by Cameron and Tyler Winklevoss, is reportedly exploring an initial public offering (IPO) potentially as early as this year. Sources familiar with the matter have confirmed the company's discussions with potential advisors, though no final decisions have been made.

Key Takeaways

• Gemini is exploring an IPO, possibly in 2025.
• Several major crypto companies are preparing for IPOs, including eToro and Circle.

This move by Gemini adds to the growing number of significant crypto firms considering public market debuts. This surge in interest is largely attributed to increased optimism surrounding the crypto industry, fueled by recent pro-crypto government stances.

Gemini's potential IPO is particularly noteworthy, given its size and influence in the market. The outcome could significantly impact other crypto companies considering similar moves.

Bullish Global, another prominent crypto exchange operator backed by Peter Thiel, is also pursuing an IPO this year, partnering with Jefferies Financial Group and JPMorgan.

eToro, a well-known social trading platform, has confidentially filed for a US IPO, aiming for a valuation exceeding $5 billion. The listing in New York is targeted for the second quarter of 2025, with Goldman Sachs, Jefferies, and UBS managing the offering.

Circle, the issuer of the USD Coin (USDC) stablecoin, has submitted confidential IPO paperwork to the Securities and Exchange Commission (SEC) and awaits regulatory approval.

While Ripple has expressed intentions to go public, ongoing legal challenges with the SEC are likely to delay its listing beyond 2025.

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