Gemini, the crypto firm backed by the Winklevoss twins, has secretly filed for an IPO as per a report from Bloomberg. The company could go public as soon as this year.
The firm, founded by billionaires Cameron and Tyler Winklevoss, is partnering with Goldman Sachs and Citigroup, although no final decision has been made on the IPO, the report said.
IPO Follows SEC’s Dropping Investigation
Notably, the potential IPO follows the SEC dropping its investigation into Gemini without taking action and the company settling a $5 million lawsuit with the Commodity Futures Trading Commission.
The investigation, which was launched nearly two years ago, primarily focused on allegations that Gemini’s “Earn” program was offering unregistered securities. This program allowed users to lend their crypto assets in exchange for interest, which raised concerns with regulators about whether these activities violated securities laws.
Cameron Winkelvoss noted in his X post that the SEC’s retreat “does little to make up for the damage this agency has done to us, our industry, and America.”
The SEC ended its probe into Gemini, following similar actions against Uniswap, Robinhood, and OpenSea, and paused litigation against the Tron Foundation and Justin Sun, similar to recent motions in cases against Coinbase and Binance.
Crypto IPO’s On The Rise
Gemini is one of several crypto firms planning to go public in the U.S. after the SEC scaled back its litigation efforts in the early months of the Trump administration. Besides, in another development, Kraken is also eyeing an IPO by Q1 2026, with other companies like Circle, Bullish, and Blockchain.com also planning U.S. listings.
The Winklevoss twins are well-known for their early Bitcoin investment and for leading Gemini, a regulated and secure crypto exchange. They are also strong advocates for establishing a strategic Bitcoin reserve.
Cameron and Tyler Winklevoss were among 30 top crypto leaders at the White House’s Digital Assets Summit on Friday. With President Trump’s administration embracing crypto, the door has swung wide open for IPOs in the industry. In a bold move, Trump also announced plans on Thursday to create a Bitcoin national reserve and stockpile other tokens seized during legal proceedings.
