Gemini, the cryptocurrency exchange founded by billionaire twins Tyler and Cameron Winklevoss, has publicly filed paperwork for a U.S. initial public offering, Reuters reported on Aug. 15. Terms were not disclosed in the filing; an earlier report on Aug. 13 said the company aims to raise about US$500m and had filed confidentially in June. Representatives of lead banks declined to comment and Gemini did not respond to requests for comment. #IPO #crypto #Gemini

The offering’s syndicate is reported to be led by Goldman Sachs and Citigroup, with Morgan Stanley and Cantor also involved. Once Gemini’s registration is made public, it could begin a share sale as soon as 15 days later, allowing a potential launch immediately after the U.S. Labor Day holiday. The company has been conducting “testing the water” meetings with potential investors.

The filing comes amid a rebound in U.S. IPO activity and a recent flurry of digital-asset listings: stablecoin issuer Circle and exchange Bullish have both gone public this year, with Bullish raising an upsized US$1.1bn after pricing 30m primary shares at US$37. Circle priced a US$1.05bn Nasdaq IPO and quickly returned to the market with a 10m-share follow-on. Bitcoin has been trading near record highs around US$122,275, supporting heightened interest in crypto-related equity offerings.

Founded in 2014, Gemini operates a platform for buying, selling and storing crypto tokens and acquired wealth management platform Bitria in 2022 to provide registered investment advisers tools for managing crypto assets. #FiatNews