US-based crypto exchange platform Gemini is reportedly mulling over pursuing an initial public offering (IPO) in 2025.
According to a new report by Bloomberg, anonymous people familiar with the matter say the billionaire Winklevoss twins’ crypto firm is considering launching an IPO sometime this year.
An IPO is when a company sells shares of its own stock to the public for the first time as a means of raising funds. Though the talks are still ongoing, no firm decisions have been made on the matter, the people said, according to the report.
Earlier this year, Tyler and Cameron Winklevoss agreed to pay the U.S. Commodity Futures Trading Commission (CFTC) a $5 million fine to end the regulatory agency’s lawsuit against them after they were sued for allegedly making false or incomplete statements.
The Winklevoss’ are mulling launching the IPO as President Donald Trump reshapes the regulatory crypto landscape via executive actions.
The twins – who once referred to former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler as an evil man with “sociopathic ambition” – donated heavily to Trump’s campaign, noting that Kamala Harris would have been disastrous for the industry. At the time, it was reported the twins sent $1 million worth of Bitcoin (BTC) to the Trump campaign.
Gensler resigned from his post a day before Trump was inaugurated.
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