Crypto exchange Gemini considers a 2025 IPO: report

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Theblock
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2小时前

Tyler and Cameron Winklevoss's crypto exchange Gemini is considering an initial public offering, Bloomberg reported citing people familiar with the matter. 

The IPO could possibly happen sometime this year, but the firm hasn't reached a definitive conclusion on the matter, Bloomberg's reporting continues. 

Gemini's potential IPO comes as President Donald Trump promises to make the United States the "world capital of artificial intelligence and crypto" during his second term. Crypto-friendly regulators like Commissioners Hester Peirce and Mark Uyeda  at the Securities and Exchange Commission are also leading endeavors to create clearer crypto regulatory frameworks for the industry. 

The news comes shortly after rival exchange Bullish announced it is mulling going public after cancelling a previous plan to list via a SPAC merger in 2021. Outside of the Bitcoin mining sector, few crypto-native firms have managed to go public following the first exchange to go public, Coinbase, in April 2021. For instance, stablecoin firm Circle also cancelled plans for a SPAC merger, but is reportedly once again looking to go public. 

In January, the exchange onboarded three senior executives to oversee the firm's European expansion in 2025. In November 2024, the exchange obtained a Virtual Asset Service Provider (VASP) license in France to let it provide crypto services across the EU, The Block previously reported. 

Gemini recorded $5.88 billion in spot market volume in January, a 6.92% decrease compared to the prior month, The Block's Data Dashboard shows. 

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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