Winklevoss Twins Consider IPO for Gemini Exchange

Bloomberg reports that Gemini’s public offering may come as soon as this year, as people familiar with the matter said.

However, no final decision has been made as the company is still in discussions with potential advisers on a listing.

Founded in 2014 by the Winklevoss twins, Gemini is one of the largest crypto exchanges in the world. According to CoinMarketCap, it has a daily trading volume of over $176 million, making it one of the top 25 spot exchanges.

The company has more than 500 employees and offices in different locations around the world, including New York, Singapore, India, Dublin, London, and more.

The news about the IPO comes shortly after Donald Trump’s return to the White House, where he has promised a crypto-friendly environment. Many in the crypto industry see Trump’s stance as a potential catalyst for regulatory clarity and a more business-friendly atmosphere. If the administration follows through on its promises, it could create a favorable climate for Gemini’s public listing and future operations.

According to Bloomberg, Bullish Global, another cryptocurrency exchange, is also eyeing an IPO. Meanwhile, Coinbase successfully went public in April 2021, signaling increased acceptance of crypto businesses in traditional financial markets.

Previously, Tyler Winklevoss criticized the Biden administration, accusing it of failing to engage with the crypto industry. In June, Tyler announced his support for Trump by donating $1 million to his campaign.

Gemini faced legal trouble with the US Commodity Futures Trading Commission (CFTC), which accused the company of making misleading statements about Bitcoin futures. Gemini settled the case in January 2025, paying $5 million to the regulator.

What Could an IPO Mean for Gemini?

An Initial Public Offering (IPO) marks a transition from a private company to a public one. This is significant for a business because it provides fresh capital, more visibility, and a stronger foothold in the financial world.

One of the biggest benefits of going public is the cash flow. With the money raised from an IPO, Gemini could expand its services, improve its platform, and maybe even venture into new areas like DeFi or advanced trading products. 

More funds also mean better security measures and compliance programs, which are crucial in an industry where regulations are constantly evolving.

Another advantage is credibility. A publicly traded company has to be transparent about its finances and operations, which could make Gemini even more attractive to institutional investors. Public companies are subject to higher disclosure standards, which can reassure investors about the company’s financial health and stability. 

Increased transparency may also lead to stronger partnerships with banks and payment processors, which are often hesitant to work with private crypto firms.

But it’s not all smooth sailing. Public companies face intense scrutiny from regulators, along with the constant pressure of meeting earnings expectations.