Gemini, the cryptocurrency firm backed by the billionaire Winklevoss twins, has filed confidentially for an initial public offering, according to people familiar with the matter.
The crypto exchange and custodian is working with Goldman Sachs Group and Citigroup on the offering, the people said, asking not to be identified as the information is private.
Gemini is considering going public as soon as this year, Bloomberg News has reported. A listing would follow the closing of a US Securities and Exchange Commission investigation into the exchange, according to a posting on X by Cameron Winklevoss in February.
The company paid US$5 million ($6.65 million) to end a Commodity Futures Trading Commission lawsuit, a January filing showed.
Deliberations are ongoing and no final decisions have been made on pursuing an IPO, the people said. Representatives for Goldman Sachs and Citigroup declined to comment. A spokesperson for Gemini didn’t immediately respond to requests for comment.
Cameron and Tyler Winklevoss were among about 30 crypto executives and heads of agencies who attended the Digital Assets Summit at the White House on Friday.
See also: Here are all the reasons why Bitcoin has plunged from a record
US President Donald Trump’s administration has embraced crypto, and that has opened the floodgates for IPOs in the industry.
The Winklevoss twins came to prominence clashing with Facebook founder Mark Zuckerberg over ownership of the social network. They both donated Bitcoin to Trump’s campaign in excess of the maximum allowed amount and were refunded the difference.
Gemini has more than 500 employees in offices in locations including New York, Seattle, Singapore, London and Dublin, its website shows.
