Gemini, the cryptocurrency exchange run by the Winklevoss twins, is reportedly planning to go public.
Secret IPO Plans?
Bloomberg, citing unnamed sources, says Gemini is working with banking giants Goldman Sachs and Citigroup on a potential initial public offering (IPO). However, it’s still early days, and no final decision has been made. If it goes ahead, these banks would help manage the IPO process and get Gemini’s shares listed on a stock exchange.
SEC Investigation Closed
Adding to the positive news, the Securities and Exchange Commission (SEC) recently closed its investigation into Gemini. The SEC stated it wouldn’t be taking any further action against the exchange.
Winklevoss’s Reaction
Cameron Winklevoss celebrated the SEC’s decision, calling it a victory in the fight against what he sees as the SEC’s overly aggressive stance on crypto. However, he also pointed out the significant financial toll the investigation took on Gemini, citing tens of millions in legal fees and hundreds of millions in lost opportunities.
