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Winklevoss-backed cryptocurrency exchange, Gemini, is reportedly considering an initial public offering (IPO) as early as this year.
The exchange is said to be currently in discussions with potential advisors regarding a public listing.
Gemini's consideration comes amid enthusiasm in the crypto industry following Donald Trump's election. Ahead of the US election, Tyler Winklevoss was staunchly against Democrat candidate Kamala Harris and her "crypto reset" campaign.
"The Fed confirmed that Operation Choke Point 2.0 remains in full swing, provided valuable insight into how it works, and verified that the Harris crypto "reset" is a scam," he said back in August.
Today, the Fed confirmed that Operation Choke Point 2.0 remains in full swing, provided valuable insight into how it works, and verified that the Harris crypto "reset" is a scam. The Fed revealed all of this in a 13-page enforcement action it issued this morning against… pic.twitter.com/zhLRRWAH0E
— Tyler Winklevoss (@tyler) August 9, 2024
Since Trump's inauguration, the twins have expressed support for the President's new initiatives. Cameron Winklevoss praised Trump's Elon Musk-led Department of Government Efficiency (DOGE) and its potential to address inflation and inequality.
"The importance of DOGE goes well beyond reigning in absurd government spending," he wrote on X. "It will lead to a decline in inflation which is a silent tax on all Americans that confiscates wealth and is also regressive, impacting low-income folks the most."
Gemini's IPO interest also coincides with Bullish Global, a crypto exchange operator backed by Peter Thiel, which is also considering an IPO.
Earlier this year, Gemini settled a lawsuit with the Commodity Futures Trading Commission (CFTC) by agreeing to pay $5 million. The settlement, disclosed in court documents on Monday, resolves allegations that Gemini made “false or misleading statements” during its efforts to gain approval for a Bitcoin futures contract.
Blockhead
The CFTC’s lawsuit, filed in 2022, accused Gemini of providing inaccurate information about how its proposed Bitcoin futures contract could be susceptible to manipulation. The complaint also suggested Gemini “knew or reasonably should have known” that its representations to the CFTC were false.
