Gemini, backed by Winklevoss twins, taps Goldman Sachs and Citigroup to explore IPO
Gemini, the cryptocurrency exchange and custodian founded by billionaire twins Cameron and Tyler Winklevoss, has confidentially filed for an initial public offering (IPO), according to a Bloomberg report.
The company is working with Goldman Sachs Group Inc. and Citigroup Inc. to explore the listing, which could take place as soon as this year.
The move follows the resolution of regulatory issues, including the closure of a U.S. Securities and Exchange Commission investigation into the exchange, as noted by Cameron Winklevoss in a February post on X (formerly Twitter).
Earlier this year, Gemini paid $5 million to settle a lawsuit with the Commodity Futures Trading Commission, a January filing showed.
In February, the Winklevoss, brothers were in discussions with bankers about a potential listing, though no final decision had been made at the time.
Today, the deliberations are still ongoing.
Why it matters
The filing underscores a growing momentum in the crypto industry amid a favorable regulatory environment under President Donald Trump’s administration.
The administration has shown strong support for the sector, with Trump announcing plans to create a national Bitcoin reserve and stockpile other forfeited tokens.
The Winklevoss twins, who rose to fame thanks to their legal battle with Facebook’s Mark Zuckerberg, were among approximately 30 crypto executives attending the Digital Assets Summit at the White House on Friday.
The brothers, early adopters of Bitcoin, have a long-standing interest in promoting cryptocurrency adoption and innovation.
Gemini, which operates offices in New York, Seattle, Singapore, London, and Dublin, has grown to more than 500 employees. Representatives for Gemini, Goldman Sachs, and Citigroup declined to comment on the IPO plans.
With the recent regulatory tailwinds, a successful Gemini IPO could signal a new wave of public offerings in the crypto sector, potentially attracting significant interest from investors eager to capitalize on the evolving digital assets landscape.
