Winklevoss Twins Pursue Wall Street Debut Through Gemini IPO

The Winklevoss twins are making another attempt to enter Wall Street, this time through an initial public offering (IPO). Their cryptocurrency exchange, Gemini, has confidentially submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC), following in the footsteps of stablecoin issuer Circle’s recent public listing.

The confidential filing of a Form S-1 by Gemini marks a significant strategic move. According to reports, the company has not revealed the size or the anticipated valuation of the offering, but this action places Gemini among a growing number of crypto-native firms aiming to tap into traditional capital markets.

The Winklevoss Twins Aim For Crypto Industry Breakthrough With Gemini’s IPO Plans

This surge of filings comes amid renewed interest from investors. A clear example of this is Circle’s remarkable debut on the New York Stock Exchange, where its shares climbed nearly 234% above the IPO price on the first day of trading.

Gemini’s push for an IPO follows several cleanup efforts. The SEC recently completed an investigation into the company, and Gemini also resolved a $5 million lawsuit with the Commodity Futures Trading Commission (CFTC), clearing significant regulatory barriers ahead of going public.

To gear up for this shift, the company brought on Goldman Sachs and Citigroup as financial advisors, signaling a clear intention to attract institutional investors in a serious way.

Gemini emphasized that the IPO would only proceed after regulatory review and would depend on favorable market conditions. The confidential nature of the filing gives the company flexibility to assess investor interest and finalize financial disclosures before making further moves.

If successful, this IPO would mark a key milestone not only for Gemini but for the wider cryptocurrency industry, which continues to strive for acceptance within the regulated financial system.

The Gemini Wants To Build On Crypto IPO Success And Gain Market Trust

The public listing would also represent an important development for Cameron and Tyler Winklevoss. They have spent more than a decade working to establish digital assets as credible investments in the eyes of regulators and market participants.

Gemini aims to capitalize on the successes of eToro’s IPO and, more recently, Circle’s listing. The latter’s stock market debut provided the first major public test of crypto’s ambitions in payment infrastructure.

When Circle, the stablecoin issuer behind USDC, started trading on the New York Stock Exchange, its shares surged well beyond expectations, boosting the company’s valuation to nearly $19 billion.

The U.S. Securities and Exchange Commission (SEC) is an independent federal agency established in response to the Wall Street crash of 1929. Its main role is to enforce laws designed to prevent market manipulation.

Created under Section 4 of the Securities Exchange Act of 1934—commonly called the Exchange Act or the 1934 Act—the SEC oversees enforcement of multiple laws. These include the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, and the Sarbanes–Oxley Act of 2002, among others.