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Julia Smith
Author
Julia Smith
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Crypto exchange Gemini is planning to go public, the company revealed in a June 6 press release.
Gemini Files to Go Public
According to the new press release, the New York-based crypto company has confidentially submitted a draft registration statement on Form S-1 with the United States Securities and Exchange Commission (SEC).
“The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined,” the statement reads. “The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions.”
The decision comes just one day after Circle began trading on the New York Stock Exchange after it filed to go public in April.
“We are not just building financial products. We are building the money layer of the internet,” Circle said in a June 5 statement. “To everyone who has contributed to this moment, thank you.”
Wall Street Ambitions Meet MAGA Momentum
The filing represents a stark shift from Gemini’s past standing with the SEC given that the federal regulator sued the crypto organization back in 2023 for violating U.S. securities laws.
“We allege that Genesis and Gemini offered unregistered securities to the public, bypassing disclosure requirements designed to protect investors,” then SEC Chair Gary Gensler said in a statement at the time.
However, the agency has taken a dramatic shift away from its past regulation-by-enforcement approach to regulating cryptocurrencies in recent months under U.S. President Donald Trump.
Gemini co-founders Tyler and Cameron Winklevoss actively supported Trump during the leadup to the November 2024 U.S. presidential election, with the duo each donating $1 million to Trump’s campaign and instituting donations to key crypto PACs along the way.
Editor’s note: This is a developing story. More details will be added as they are made available to the public.
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