Cointelegraph
--
Winklevoss' Gemini submits confidential IPO filing amid renewed investor confidence
Cryptocurrency exchange Gemini has filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC), according to a June 6 press release.
Gemini filed a confidential draft registration statement on SEC Form S-1, which allows a company to file for IPO before publicly disclosing sensitive information. The filing comes amid renewed investor confidence as uncertainty due to trade wars has waned.
The number of shares to be offered and the price range per share have not been determined. No date was mentioned for when the IPO might occur.
Gemini was founded in 2014 by twins Cameron and Tyler Winklevoss. In November 2021, itย announcedย a fundraise of $400 million at a valuation of $7.1 billion. The exchange reportedly had a headcount of around 1,000 employees in November 2022, although it would later lay off some employees during the crypto winter.
In January 2023, Gemini ran afoul of the SEC for the exchangeโs โEarnโ program, which the agency alleged involved the selling of unregistered securities.
The Winklevoss twins were significant backers of US President Donald Trumpโs election campaign, donating $1 million each. The donations were later refunded for exceeding the upper limit for contributions from individuals.
IPO season heats up after Circle, CoreWeave performances
The race for initial public offerings has started to heat up after Circleโs successful IPO on June 5 and Coreweaveโs skyrocketing share price following the companyโs going public in March.
At close of the tradingon June 5, Circleโs share price had risen 167%. The oversubscribed round caught the attention of many, including BlackRock, which had been eyeing a 10% stake, and Cathie Woodโs ARK Investment, considering buying $150 million worth of shares of the stablecoin issuer.
Circleโs stock price momentum continued on June 6, with its share price rising an additional 32.2% at this writing.
Circle's share intraday performance on June 6. Source: Yahoo Finance
CoreWeave, which completed its initial public offering on March 28, has seen a share price increase of 158% in the past month, according to Google Finance.
Journeys in Blockchain: Father-son team lists Africaโs XRP Healthcare on Canadian stock exchange
Gemini filed a confidential draft registration statement on SEC Form S-1, which allows a company to file for IPO before publicly disclosing sensitive information. The filing comes amid renewed investor confidence as uncertainty due to trade wars has waned.
The number of shares to be offered and the price range per share have not been determined. No date was mentioned for when the IPO might occur.
Gemini was founded in 2014 by twins Cameron and Tyler Winklevoss. In November 2021, itย announcedย a fundraise of $400 million at a valuation of $7.1 billion. The exchange reportedly had a headcount of around 1,000 employees in November 2022, although it would later lay off some employees during the crypto winter.
In January 2023, Gemini ran afoul of the SEC for the exchangeโs โEarnโ program, which the agency alleged involved the selling of unregistered securities.
The Winklevoss twins were significant backers of US President Donald Trumpโs election campaign, donating $1 million each. The donations were later refunded for exceeding the upper limit for contributions from individuals.
IPO season heats up after Circle, CoreWeave performances
The race for initial public offerings has started to heat up after Circleโs successful IPO on June 5 and Coreweaveโs skyrocketing share price following the companyโs going public in March.
At close of the tradingon June 5, Circleโs share price had risen 167%. The oversubscribed round caught the attention of many, including BlackRock, which had been eyeing a 10% stake, and Cathie Woodโs ARK Investment, considering buying $150 million worth of shares of the stablecoin issuer.
Circleโs stock price momentum continued on June 6, with its share price rising an additional 32.2% at this writing.
Circle's share intraday performance on June 6. Source: Yahoo Finance
CoreWeave, which completed its initial public offering on March 28, has seen a share price increase of 158% in the past month, according to Google Finance.
Journeys in Blockchain: Father-son team lists Africaโs XRP Healthcare on Canadian stock exchange
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.ย See T&Cs.
Explore the latest crypto news
โก๏ธ Be a part of the latests discussions in crypto
๐ฌ Interact with your favorite creators
๐ Enjoy content that interests you
Email / Phone number
Relevant Creator
