Crypto exchange, Gemini Files for IPO After Circle’s Strong NYSE Debut. On Friday, the company announced it had confidentially filed a draft registration statement (Form S-1) with the U.S. Securities and Exchange Commission (SEC), signaling plans for an initial public offering (IPO) of its Class A common stock.
The move comes just one day after crypto firm Circle, the company behind the USDC stablecoin, saw a hugely successful debut on the New York Stock Exchange. The company priced its stock at $31 but opened trading at $69.
By the end of the day, it closed at $83, up over 160% raising more than $1 billion. This strong response to Circle’s IPO appears to have encouraged other crypto firms like Gemini to move forward with similar plans.
According to the press release, Gemini is yet to decide how many shares it will offer or what the price range will be as these details will be shared after the SEC completes its review.
The company also made it clear that this announcement does not constitute an offer to sell or buy shares. Any actual sale of securities will be carried out according to U.S. securities laws under the Securities Act of 1933 and in line with Rule 135.
Founded by Cameron and Tyler Winklevoss, Gemini has grown to be a more established name in the crypto exchange space. The fact that they chose to file for an IPO now shows they believe the crypto market is getting stronger again, especially after Circle’s recent success on the stock market.
While the exact timeline for Gemini’s IPO remains unclear, this move shows that crypto companies are once again starting to gain the attention of Wall Street. As the SEC reviews Gemini’s filing, investors will be keeping a close eye on what could be the next big crypto IPO.
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