Latest news with #Winklevoss
Zawya
7 hours ago
- Business
- Zawya
Gemini confidentially files for US IPO as crypto markets heat up
Gemini, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, on Friday disclosed it had confidentially filed for a U.S. initial public offering, as digital asset firms seize on renewed market momentum. Several high-profile companies, including those in high-risk sectors such as crypto and financial technology, have launched successful listings in recent weeks, reflecting pent-up demand and renewed vigor in the capital markets. Earlier this week, stablecoin issuer Circle went public in a blowout debut on the New York Stock Exchange. "Pre-IPO crypto companies would be crazy not to move ahead with listings after seeing how Circle traded," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "Crypto can be an unpredictable market, so when you get a chance like this, you take it." The surge in cryptocurrency IPOs signals a turning point for the industry, reflecting growing confidence among digital asset firms to attract mainstream investors and bringing increased transparency, regulatory scrutiny and capital that could help solidify crypto's place in traditional financial markets. Gemini, which operates a trading platform enabling investors to buy, sell and store more than 70 crypto tokens, said it has not yet determined the size or proposed price range for its offering. "Gemini's move contributes to the broader momentum and reinforces the idea that crypto-native firms are increasingly preparing to access public markets," said Kat Liu, vice president at IPOX. "More broadly, this signals that long-anticipated firms are now ready to reengage with public capital," Liu added, noting that investor appetite is returning, especially for companies with well-defined business models in strategic sectors such as fintech, AI and digital assets. The Winklevoss twins shot to fame after they sued Facebook and its CEO Mark Zuckerberg, alleging he had stolen their idea for the social networking site. They agreed to a settlement in 2008, in which they received cash and Facebook stock. GROWING MOMENTUM The global cryptocurrency market is currently valued at roughly $3.3 trillion with bitcoin trading firmly above the key $100,000 apiece milestone, according to data from CoinMarketCap. "A successful listing would confirm that the crypto thaw is real," said Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors. "If equity underwriters smell a new fee stream, expect the calendar to unfreeze for everything from fintech to AI chips." The industry, particularly after the approval of spot bitcoin ETFs in the U.S., has attracted billions in inflows from institutional investors seeking exposure to the asset class. In May, Coinbase became the first U.S. crypto-focused company to join the S&P 500, a watershed moment for the industry. As the crypto sector matures financially and gains regulatory footing, firms are becoming more integrated into traditional markets. This marks a sharp turnaround for an industry that spent more than a decade under intense regulatory scrutiny worldwide. After the collapse of crypto exchange FTX in 2022, many institutional investors retreated from the digital asset market. Prices later recovered, and the sector gained fresh momentum when U.S. President Donald Trump voiced support during his campaign, pledging to be a "crypto president."
Economic Times
2 days ago
- Business
- Economic Times
Gemini confidentially files for US IPO as crypto markets heat up
Gemini, run by the Winklevoss twins, has confidentially filed for a US IPO. This move comes as crypto firms see renewed market strength. Circle's recent successful debut has encouraged others. Experts say crypto firms should seize this opportunity. The IPO surge signals growing confidence in the crypto industry. This could bring more transparency and capital to the market. Tired of too many ads? Remove Ads Crypto TrackerPowered By TOP COINS TOP COIN SETS Solana 13,053.94 ( 2.88 %) Buy XRP 187.03 ( 2.12 %) Buy Bitcoin 89,95,220 ( 1.28 %) Buy Ethereum 2,13,447 ( 1.05 %) Buy BNB 55,601 ( 0.94 %) Buy Tired of too many ads? Remove Ads Gemini, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, on Friday disclosed it had confidentially filed for a U.S. initial public offering, as digital asset firms seize on renewed market high-profile companies, including those in high-risk sectors such as crypto and financial technology, have launched successful listings in recent weeks, reflecting pent-up demand and renewed vigor in the capital this week, stablecoin issuer Circle went public in a blowout debut on the New York Stock Exchange."Pre-IPO crypto companies would be crazy not to move ahead with listings after seeing how Circle traded," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "Crypto can be an unpredictable market, so when you get a chance like this, you take it."The surge in cryptocurrency IPOs signals a turning point for the industry, reflecting growing confidence among digital asset firms to attract mainstream investors and bringing increased transparency, regulatory scrutiny and capital that could help solidify crypto's place in traditional financial which operates a trading platform enabling investors to buy, sell and store more than 70 crypto tokens, said it has not yet determined the size or proposed price range for its offering."Gemini's move contributes to the broader momentum and reinforces the idea that crypto-native firms are increasingly preparing to access public markets," said Kat Liu, vice president at IPOX."More broadly, this signals that long-anticipated firms are now ready to reengage with public capital," Liu added, noting that investor appetite is returning, especially for companies with well-defined business models in strategic sectors such as fintech, AI and digital Winklevoss twins shot to fame after they sued Facebook and its CEO Mark Zuckerberg, alleging he had stolen their idea for the social networking site. They agreed to a settlement in 2008, in which they received cash and Facebook MOMENTUMThe global cryptocurrency market is currently valued at roughly $3.3 trillion with bitcoin trading firmly above the key $100,000 apiece milestone, according to data from CoinMarketCap."A successful listing would confirm that the crypto thaw is real," said Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors. "If equity underwriters smell a new fee stream, expect the calendar to unfreeze for everything from fintech to AI chips."The industry, particularly after the approval of spot bitcoin ETFs in the U.S., has attracted billions in inflows from institutional investors seeking exposure to the asset May, Coinbase became the first U.S. crypto-focused company to join the S&P 500, a watershed moment for the the crypto sector matures financially and gains regulatory footing, firms are becoming more integrated into traditional marks a sharp turnaround for an industry that spent more than a decade under intense regulatory scrutiny the collapse of crypto exchange FTX in 2022, many institutional investors retreated from the digital asset market. Prices later recovered, and the sector gained fresh momentum when U.S. President Donald Trump voiced support during his campaign, pledging to be a "crypto president."
Yahoo
3 days ago
- Business
- Yahoo
Winklevoss-led exchange Gemini files for IPO amid crypto boom
The public market for crypto companies is heating up. On the heels of Circle's monster debut on the New York Stock Exchange, another firm is following in its steps, with Gemini announcing on Friday that it has confidentially filed for an initial public offering. Founded by the Winklevoss twins, Cameron and Tyler, in 2014, Gemini is one of the longest-operating U.S. crypto companies, though it has never reached the scale of competitors like Coinbase. Though Gemini's main product is its exchange, which allows users to buy and sell popular cryptocurrencies like Bitcoin and Ethereum, it offers other services, including custody and staking. Like other crypto companies, Gemini has endured a rocky relationship with regulators, especially after its failed partnership with Genesis, the former subsidiary of the crypto conglomerate Digital Currency Group, led to a messy series of lawsuits and enforcement actions from state and federal agencies. Despite the hiccups, Gemini is aiming to ride the wave of investor interest in crypto, driven by the Trump administration's embrace of the sector. The Winklevoss twins were outspoken supporters of Trump's bid for a second term, with each personally donating $1 million in Bitcoin to his campaign. They appeared at the White House when Trump hosted the first-ever crypto summit in March. In a press release, a Gemini spokesperson said that the IPO will occur after the Securities and Exchange Commission has conducted its review. Famous for their spat with Mark Zuckerberg over the founding of Facebook, the Winklevoss twins plotted their next act in cryptocurrency, embracing Bitcoin before it was a popular asset class. They founded Gemini soon after Coinbase came to the market, earning one of the first crypto licenses granted by the New York Department of Financial Services in 2015. Despite the company's early mover status, it struggled to gain a top market hold amid regulatory obstacles. The Winklevoss twins were the first to apply for a spot Bitcoin ETF with the SEC in 2013 as they were setting up Gemini, though the bid did not gain approval. And its decision to create an investment vehicle called Gemini Earn with Genesis amid the crypto boom in 2021 proved to be disastrous. Through the product, Gemini users could lend their cryptocurrency to the firm for yields up to 13%. On the backend, Gemini lent the assets to Genesis, which in turn lent them to other firms like the hedge fund Three Arrows Capital and Sam Bankman-Fried's FTX. After many of these companies went belly-up in 2022, the assets were frozen, leading to the bankruptcy of DCG's lending arm, Genesis, and an ugly legal dispute between Gemini and DCG. While the two companies ultimately returned capital to Gemini's users, the episode still resulted in enforcement actions from the SEC, as well as the New York Department of Financial Services and the New York Attorney General. In the wake of the regulatory crackdown, the Winklevoss twins supported Trump's crypto-friendly campaign. Along with their appearance at the White House digital assets summit, CNBC reported that the Winklevoss twins are founding members of a new private membership club in Washington, D.C., founded by Donald Trump Jr. Gemini's public announcement of its IPO filing comes just one day after Circle's public market debut, which saw the stablecoin issuer's stock pop over 168%. This story was originally featured on 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
CNA
3 days ago
- Business
- CNA
Gemini confidentially files for US IPO as crypto markets heat up
Gemini, a crypto exchange run by billionaire twins Tyler and Cameron Winklevoss, on Friday disclosed it had confidentially filed for a U.S. initial public offering, as digital asset firms seize on renewed market momentum. Several high-profile companies, including those in high-risk sectors such as crypto and financial technology, have launched successful listings in recent weeks, reflecting pent-up demand and renewed vigor in the capital markets. Earlier this week, stablecoin issuer Circle went public in a blowout debut on the New York Stock Exchange. The surge in cryptocurrency IPOs signals a turning point for the industry, reflecting growing confidence among digital asset firms to attract mainstream investors and bringing increased transparency, regulatory scrutiny and capital that could help solidify crypto's place in traditional financial markets. Gemini, which operates a trading platform enabling investors to buy, sell and store more than 70 crypto tokens, said it has not yet determined the size or proposed price range for its offering. "Gemini's move contributes to the broader momentum and reinforces the idea that crypto-native firms are increasingly preparing to access public markets," said Kat Liu, vice president at IPOX. "More broadly, this signals that long-anticipated firms are now ready to reengage with public capital," Liu added, noting that investor appetite is returning, especially for companies with well-defined business models in strategic sectors such as fintech, AI and digital assets. The Winklevoss twins shot to fame after they sued Facebook and its CEO Mark Zuckerberg, alleging he had stolen their idea for the social networking site. They agreed to a settlement in 2008, in which they received cash and Facebook stock. GROWING MOMENTUM The global cryptocurrency market is currently valued at roughly $3.3 trillion with bitcoin trading firmly above the key $100,000 apiece milestone, according to data from CoinMarketCap. "A successful listing would confirm that the crypto thaw is real," said Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors. "If equity underwriters smell a new fee stream, expect the calendar to unfreeze for everything from fintech to AI chips." The industry, particularly after the approval of spot bitcoin ETFs in the U.S., has attracted billions in inflows from institutional investors seeking exposure to the asset class. In May, Coinbase became the first U.S. crypto-focused company to join the S&P 500, a watershed moment for the industry that signaled rising mainstream acceptance of digital assets. As the crypto sector matures financially and gains regulatory footing, firms are becoming more integrated into traditional markets, though analysts caution that volatility and shifting rules still pose challenges. This marks a sharp turnaround for an industry that spent more than a decade under intense regulatory scrutiny worldwide. After the collapse of crypto exchange FTX in 2022, many institutional investors retreated from the digital asset market. Prices later recovered, and the sector gained fresh momentum when U.S. President Donald Trump voiced support during his campaign, pledging to be a "crypto president."
Al Jazeera
28-05-2025
- Business
- Al Jazeera
US Vice President Vance touts Trump's crypto record at Bitcoin conference
United States Vice President JD Vance has urged the domestic cryptocurrency industry to remain involved in US politics, highlighting the close ties of President Donald Trump's administration to a deep-pocketed industry. Speaking at a Bitcoin conference in Las Vegas, Nevada, on Wednesday, Vance urged cryptocurrency executives and enthusiasts to keep pressure on the US Congress to pass pro-crypto legislation supported by the White House 'We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens,' Vance said in his address. 'But if we fail to create regulatory clarity now, we risk chasing this $3 trillion industry offshore in search of a friendly jurisdiction.' Vance made the speech after Trump promised to make the US the 'crypto capital of the planet' when he addressed the same Bitcoin conference in Nashville, Tennessee, last year in the middle of the presidential campaign. The crypto industry, which felt unfairly attacked by former President Joe Biden's administration, spent heavily to help Trump and pro-cryptocurrency lawmakers win election. Vance praised how quickly the crypto industry was able to organise and influence US politics during last year's elections, giving special credit to Cameron and Tyler Winklevoss, the billionaire founders of the crypto exchange Gemini. 'You chose to speak up, and you chose to get involved, and I believe you changed the direct trajectory of our country because of it,' Vance told the crowd gathered at the Venetian Hotel. Vance hailed cryptocurrencies as a hedge that can help conservative populists protect themselves against what he called bad politicians, overly aggressive regulators and unethical elites. He predicted continued assimilation of the digital currencies into the financial mainstream and said it was strategically important for the US to be a world leader in the industry, noting that the Chinese government is hostile to crypto. As president, Trump has established a Bitcoin reserve for the federal government and pardoned Ross Ulbricht, the founder of Silk Road, a black market website that was key to the early growth of Bitcoin. Trump has also put outspoken crypto backers in his administration, which has undone or paused several enforcement actions taken against large cryptocurrency companies Several other Trump officials are speakers at the Bitcoin conference, as are his sons Don Jr and Eric. The president and his family's use of cryptocurrencies as a platform to make money has drawn criticism from Democrats and even crypto enthusiasts as corrupt and unseemly. The Trump family holds about a 60 percent stake in a crypto project called World Liberty Financial, which recently launched its own stablecoin, a fast-growing form of cryptocurrency whose value is often tied to the US dollar. This month, the US Senate advanced legislation that would create a federal framework to regulate stablecoins, a bill that Vance said the Trump administration wants passed into law quickly. Trump's media company announced on Tuesday that it was raising $2.5bn to buy Bitcoin, the world's oldest and most popular cryptocurrency. The president and first lady Melania Trump have also launched their own meme coins. Last week, Donald Trump rewarded investors in his coin. About 220 of the biggest investors in the $TRUMP were invited to Trump's luxury golf club in northern Virginia.
