Gemini Files IPO Follows Circle as Crypto Listings Gain Momentum

Cryptocurrency exchange Gemini has taken a huge step toward going public. On June 6, the organisation announced that it confidentially submitted a draft registration statement, known as Form S-1, to the U.S. SEC, aiming for IPO filing for the Class-A stock. This move could mark the beginning of Gemini’s journey to becoming a publicly listed company, following in the footsteps of stablecoin giant Circle.

IPO Details Still Under Wraps

This filing is confidential, which means the company has not yet informed how many shares it plans to sell or at what price. This method allows organisations to keep sensitive financial details private until they are ready to make them public. The step will only move forward after the SEC completes its review and if market conditions remain favorable.

Timing Aligns with Circle’s Successful Listing

The timing of Gemini’s confidential filing is noteworthy. It comes just one day after Circle made a successful public debut on the New York Stock Exchange. Circle, the organisation that brought USDC stablecoin. It experienced its shares jump by 168% on the very first day, when the trading began. The rally continued into the next day, with an additional 32.2% price gain. This strong market response could have helped boost investor confidence in other crypto companies like this crypto exchange.

A Glance at Gemini’s Journey

Cameron and Tyler, the Winklevoss twins, established the organisation in 2014. Known primarily for ensuring security and regulations , the company became recognized. In November 2021, it obtained a funding worth of $400 million. It was valued at $7.1 billion. Just like other crypto companies. They had challenges during the "crypto winter" and had to reduce its workforce. In early January 2023, the SEC levied charge on the company for its “Earn” programme, which was convicted of supplying unregistered securities.

Regardless of these challenges, the Winklevoss twins now play major roles in the world of cryptocurrencies. In addition, they are recognized for their political links, since they both contributed $1 million to Donald Trump and later had to give back that money because of the contribution limits.

Market Readiness and Investor Buzz

With news of Circle’s IPO creating excitement among notable investors like ARK investment and Blackrock , the company looks to have made the right decision in filing for its own IPO now. As Circle raised over $1 billion, gaining engagement from Wall Street, it may convince other crypto exchanges to test the possibility of an IPO.

Filing of Form S-1 is considered to be the formal move signaling that an initial public offering is on its way, although there is no timeline defined for its IPO till now. The final details of the offering will rely on approval from the SEC and on the market conditions. So far, the twins have not said anything publicly about their offering.

What’s Next for Gemini?

If approved, this could could receive a lot of attention in the world of cryptocurrencies this year. Circle’s accomplishment led others to believe that the market is becoming positive again toward crypto-related stocks following a long period of instability. People are now patiently waiting to see how the SEC will act and how soon the company might go public.