NewsWinklevoss-Backed Gemini Secretly Files for IPO – Will It Go Public This Year?
Nidhi Kolhapur8 Mar 20254 min read
Gemini, the crypto exchange founded by the Winklevoss twins, has quietly filed for an initial public offering (IPO), according to a Bloomberg report. If all goes as planned, the company could go public as early as this year.
This move comes at a critical time for the crypto industry, with regulatory pressures easing and major firms eyeing public listings. But what led to this decision, and why now?
Winklevoss Twins Team Up with Wall Street for IPO
Billionaire brothers Cameron and tyler winklevoss tyler winklevoss at Gemini Exchange Tyler Winklevoss is an American rower and entrepreneur. He is a co-founder of Gemini, a platform for cryptocurrency exchanges. He invested in Bitcoin in its initial days with his twin brother Cameron Winklevoss. Quick Facts Full Name Tyler Howard Winklevoss Birth 21-08-1981 in Southampton, New York, United States Nationality American Education BA from Harvard University, MBA from Christ Church, Oxford Marital Status Married to Jane Xie Net Worth $2.7B (refer for real time) Before entering the crypto space, the Winklevoss twins were well-known for their legal dispute with Mark Zuckerberg. They claimed that they were the original creators of Facebook (now Meta). This legal dispute ended with a $65 million settlement. Tyler Winklevoss - Career Highlights 2004: Co-founded ConnectU, a social networking site that led to the Facebook lawsuit. 2008: Represented the U.S. in rowing at the Beijing Olympics. 2012: Invested early in Bitcoin, acquiring approximately 1% of total BTC supply. 2014: Co-founded Gemini Exchange, a regulated crypto trading platform. 2015: Launched Gemini Dollar (GUSD), a regulated stablecoin pegged to the USD. 2018: Led Gemini to obtain New York DFS approval, setting standards for crypto compliance and policies. 2021: Expanded Gemini into NFTs and DeFi, pushing Web3 adoption. 2023: Advocated for Bitcoin ETFs and institutional crypto adoption, enhancing mainstream credibility. The twin brothers are some of the first Bitcoin billionaires to use their funds to invest in Bitcoin. With the help of Gemini, Tyler has reached investors, which allows them to buy, sell, and trade cryptocurrencies. This eventually makes Tyler an important person in the crypto space. Awards & Notable Works by Tyler Winklevoss Year Organization Description 2004 IRA National Champion Intercollegiate Rowing Association 2008 US Olympic Committee Olympic Athlete in Men's Pair Rowing 2011 Forbes Forbes 30 Under 30 2018 CNBC CNBC Disruptor 50 2020 Harvard University Induction into Harvard Varsity Club Hall of Fame Useful Links To Connect With Tyler Winklevoss Platform Link X (formerly Twitter) https://x.com/tyler LinkedIn https://www.linkedin.com/in/tylerwinklevoss Instagram https://www.instagram.com/tylerwinklevoss EntrepreneurInvestorChief Executive OfficerVenture Capitalist have partnered with Goldman Sachs Goldman Sachs The Goldman Sachs Group is a securities, investment banking, and investment management company founded in 1869 and primarily based in New York City, United States. The company offers underwriting services for public offerings, convertible and exchangeable securities, investment-grade debt, high-yield debt, emerging market debt, sovereign and municipal debt, bank loans, asset-backed securities, and real estate securities. Key Features: Offers various services, including consumer banking, asset management, and investment banking. The platform is known for its innovation, financial skills, and Transformative actions. Provides advisory services for mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs. [email protected] Multinational Investment Bank and Citigroup to explore the IPO, though no final decision has been made, the report states.
The move comes shortly after the U.S. Securities and Exchange Commission (SEC) dropped its investigation into Gemini without taking enforcement action. The company also recently settled a $5 million lawsuit with the Commodity Futures Trading Commission (CFTC).
SEC Ends Probe into Gemini’s ‘Earn’ Program
The SEC began investigating Gemini nearly two years ago over concerns that its “Earn” program offered unregistered securities. The program allowed users to lend their crypto in exchange for interest, raising regulatory questions about whether it violated securities laws.
Following the SEC’s decision to close the case, Cameron Winklevoss criticized the agency’s actions on X (formerly Twitter), saying its retreat “does little to make up for the damage this agency has done to us, our industry, and America.”
The SEC has also recently ended investigations into Uniswap, Robinhood, and OpenSea. In addition, it has paused litigation against the Tron Foundation and its founder, Justin Sun, similar to its legal shifts in cases against Coinbase and Binance.
Crypto IPOs On The Rise
Gemini is one of several crypto firms preparing for public listings as regulatory pressure eases. Kraken is also exploring an IPO, targeting early 2026, while Circle, Bullish, and Blockchain.com are making similar plans for U.S. listings.
The Winklevoss twins, known for their early Bitcoin investments and leadership at Gemini, have been strong advocates for crypto adoption. They are also pushing for the creation of a national Bitcoin reserve.
Trump’s Pro-Crypto Stance Boosts Market Confidence
Cameron and Tyler Winklevoss were among 30 top crypto leaders who attended the White House’s Digital Assets Summit on Friday. With President Trump’s administration showing support for the industry, crypto firms now have more opportunities to go public.
In a bold move, Trump announced plans on Thursday to establish a national Bitcoin reserve and stockpile other cryptocurrencies seized through legal actions. This marks a major shift in how the U.S. government views Bitcoin’s role in the financial system.
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