Gemini, the crypto exchange founded by the Winklevoss twins, is reportedly exploring plans to go public this year.
Bloomberg reported Friday that the exchange has begun discussions with potential advisors about a possible listing. However, no final decision has been made yet.
After Donald Trump won the 2024 presidential election, several cryptocurrency companies accelerated their plans to go public. They are aiming to capitalize on the new administration’s pro-crypto stance.
Circle, the company behind USDC and a major player in crypto payments, has already filed for an initial public offering (IPO), while Animoca Brands is also expected to debut on the public markets this year.
On the other hand, industry giants Ripple and Tether have not yet made it clear whether they are considering IPOs, distancing themselves from speculation about potential public listings.
Gemini didn’t return Cryptonews’ request for comment by press time.
Gemini Founders Go All In on Trump, Cut MIT Ties Over Gensler’s Role
The Winklevoss twins each donated $1m to Trump’s election campaign last year. Cameron Winklevoss publicly declared his support for Trump, citing his pro-Bitcoin, pro-crypto and pro-business stance as the key reason behind his vote.
Meanwhile, Tyler Winklevoss criticized the Biden administration for what he called an aggressive “war against crypto.” He accused the government of using multiple agencies to bully, harass and sue legitimate industry players in an attempt to dismantle the sector.
In a bold move last month, Gemini announced it would stop hiring graduates from the Massachusetts Institute of Technology (MIT) unless the university removes former SEC chair Gary Gensler from his teaching position.
Winklevoss Twins Considered Taking Gemini Public 4 Years Ago, But Pulled Back
The Winklevoss twins, who first gained attention for suing Mark Zuckerberg over claims that he stole their idea for Facebook, have been longtime Bitcoin advocates and investors. In 2014, they launched Gemini, which now operates both a crypto exchange and a custody service.
Gemini initially explored the idea of going public in 2021. The success of other crypto-related IPOs, such as Coinbase and Bakkt, likely influenced those discussions, making a public listing seem like a viable option. However, despite considering the move, Gemini ultimately decided not to proceed with an IPO at the time.
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