Latest news with #TylerWinklevoss
Yahoo
2 days ago
- Business
- Yahoo
Billionaire Winklevoss Twins-Backed Exchange Gemini Files With SEC For Planned IPO
Gemini Space Station Inc., the crypto exchange and custody platform founded by Cameron and Tyler Winklevoss, has taken a significant step toward becoming a publicly traded company. The firm announced Friday that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC), signaling its intent to pursue an initial public offering (IPO) of its Class A common stock. While specific details around the size and valuation of the offering remain undisclosed, the move positions Gemini among a growing list of crypto-native firms seeking a foothold in traditional capital markets. The crypto exchange has been taking major steps to go public in the U.S., including hiring Goldman Sachs and Citigroup as its financial advisors for the IPO. Gemini had also settled a $5 million lawsuit by the Commodity Futures Trading Commission, while the SEC ended its investigation into the exchange earlier this year. The timing aligns with renewed interest in digital asset IPOs after stablecoin issuer Circle (CRCL) started trading on the New York Stock Exchange (NYSE) this week. Shares of Circle surged in its first day of trading Thursday, closing at $83 after going public at $31. The stock is currently trading around $113, almost 264% higher than its IPO price. Gemini's offering, if completed, would mark a major milestone not just for Gemini but for the crypto industry's ongoing quest for mainstream financial legitimacy. The company noted that the IPO will proceed after SEC review and pending market conditions, per standard disclosure in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
2 days ago
- Business
- Arabian Post
Gemini Quietly Advances Toward Public Listing Amid Regulatory Shift
Cryptocurrency exchange Gemini, co-founded by Cameron and Tyler Winklevoss, has confidentially filed for an initial public offering in the United States, signaling a significant step toward entering public markets. The firm is collaborating with investment banks Goldman Sachs and Citigroup on the offering, according to individuals familiar with the matter. While the timeline and final decision remain pending, the confidential nature of the filing allows Gemini to prepare for a potential listing without immediate public disclosure. This move follows the conclusion of a nearly two-year investigation by the U.S. Securities and Exchange Commission into Gemini's operations. In February, Cameron Winklevoss announced that the SEC had closed its inquiry without recommending enforcement action, removing a significant regulatory hurdle. Additionally, Gemini settled a separate lawsuit with the Commodity Futures Trading Commission in January, agreeing to a $5 million penalty over allegations related to its 2017 bid to offer Bitcoin futures contracts. Gemini's decision to pursue an IPO comes amid a broader shift in the U.S. regulatory landscape under the current administration, which has adopted a more crypto-friendly stance. This environment has encouraged several digital asset firms, including Kraken and Circle, to explore public listings. Notably, the Winklevoss twins were among approximately 30 crypto executives who attended a White House summit focused on digital assets, reflecting the administration's engagement with the industry. Founded in 2014, Gemini has positioned itself as a regulated and secure platform for cryptocurrency trading and custody. The exchange operates in multiple global markets, including New York, Singapore, London, and Dublin. In late 2024, Gemini expanded its services to France in anticipation of new EU cryptocurrency regulations. The company has also diversified its offerings, launching products such as the Gemini Dollar stablecoin and acquiring the NFT platform Nifty Gateway in 2019. ADVERTISEMENT Despite its growth, Gemini has faced challenges, particularly related to its Earn program, which allowed customers to lend crypto assets to the now-bankrupt lender Genesis. The program's suspension in November 2022 led to approximately $940 million in customer assets being frozen. However, a rise in crypto prices has since enabled Gemini and Genesis to return over $2 billion worth of crypto to affected customers.
CNBC
2 days ago
- Business
- CNBC
Winklevoss twins' crypto firm Gemini confidentially files for IPO
Gemini, the cryptocurrency exchange and custodian founded by Cameron and Tyler Winklevoss, has confidentially filed for an IPO in the U.S., according to a press release on Friday. The number of shares and the pricing terms have not yet been decided upon, and the company said a listing "is expected to occur after the SEC completes its review process, subject to market and other conditions." By filing confidentially, Gemini can test investor appetite and prepare for a public debut without immediate scrutiny of its financials. The announcement comes after the SEC wrapped up its investigation into Gemini in February without recommending enforcement action, and follows a $5 million settlement with the Commodity Futures Trading Commission in January. Gemini is the latest crypto firm to pursue a public listing as President Donald Trump's administration pushes more favorable regulations for the industry, which heavily funded his campaign. Stablecoin issuer Circle held a blockbuster debut this week, with its stock soaring in its first two days on the market. Mike Novogratz's Galaxy Digital moved its listing from Toronto to the Nasdaq last month. Gemini, a cryptocurrency exchange and custodian, was founded by the Winklevoss twins in 2014. In March, the company named former Affirm executive Dan Chen as its CFO in preparation for a public offering. "I'm looking forward to helping Gemini scale by driving financial strategy as the company enters its next phase of growth," Chen wrote in a post on LinkedIn at the time.
Yahoo
13-05-2025
- Business
- Yahoo
Gemini Secures MiFID II License From Malta to Offer Derivatives in EEA
Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, said it secured a MiFID II license from Malta allowing it to offer derivative products across the European Economic Area. The license from Malta Financial Services Authority (MFSA) will enable the company to offer perpetual futures and other derivatives across the European Union's 27 nations plus Iceland, Liechtenstein and Norway, once the required conditions are met, Gemini said Friday. "There are technical and operational steps to ensure we launch these products in a compliant and secure manner, which we hope to do so in the coming months," a Gemini spokesperson said. Exchanges have been moving into derivatives as the next frontier for revenue growth. One of the largest crypto exchanges, Coinbase (COIN), on Thursday said it agreed to pay $2.9 billion to buy bitcoin BTC and ether ETH options platform Deribit. The purchase gives it an immediate "dominant foothold" in the derivatives space, a note from Benchmark analyst Mark Palmer said at the time. In Europe, Gemini is following in the footsteps of rival Kraken, which secured a MiFID license in February by buying a Cyprus-based investment firm. "This is a hugely exciting development in our 2025 European expansion, as it puts Gemini one step closer to offering our derivative products to both retail and institutional users in the EU and the EEA," the company (May 9, 15:26 UTC): Adds Gemini comment in third paragraph. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Crypto Insight
10-05-2025
- Business
- Crypto Insight
Gemini to launch crypto derivatives in Europe with new license
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has received regulatory approval to expand crypto derivatives trading across Europe. Gemini secured a Markets in Financial Instruments Directive II (MiFID II) license from the Malta Financial Services Authority (MFSA), allowing the exchange to offer crypto derivatives in the European Union, it announced on May 9. 'Once we commence business activities, we will be able to offer regulated derivatives throughout the EU and EEA [European Economic Area] under MiFID II,' said Gemini's head of Europe, Mark Jennings. According to the exec, the MiFID II license is a big milestone in Gemini's European expansion, putting it one step closer to offering derivatives to both retail and institutional users. Advanced traders will get perpetual futures Gemini's upcoming derivatives offering in the EU and EEA will include perpetual futures and other derivatives, which will be available to advanced users of Gemini, Jennings noted. 'Over the coming months, we will be working toward meeting the required conditions to launch these products across Europe,' he added. According to MFSA records, Gemini's Maltese entity, Gemini Intergalactic EU Artemis, was issued a license on May 8. MiCA license yet to be issued Gemini's latest license builds on the growing regulatory progress of the US-based exchange in Europe. In January, Gemini officially announced that it would choose Malta as its hub for compliance with the European Union's Markets in Crypto-Assets (MiCA) framework. The move came shortly after Gemini received its sixth European virtual asset service provider (VASP) registration from the MFSA in December 2024. However, the exchange has not yet obtained full MiCA licensing. Derivatives are a hot trend in crypto Gemini's upcoming crypto derivatives launch in Europe is yet another milestone in a growing trend toward derivatives in the global crypto industry. Coinbase, the biggest crypto exchange in the US by trading volume, on May 8 announced the $2.9 billion acquisition of Deribit, one of the world's largest crypto derivatives platforms. The deal came just a few days after rival exchange Kraken confirmed plans to purchase the derivatives trading platform NinjaTrader to offer futures trading on May 1. The firm previously said it had agreed to acquire NinjaTrader for $1.5 billion. Source:
