Winklevoss-founded crypto exchange Gemini files draft statement to go public

Cryptocurrency exchange Gemini filed a draft statement for an initial public offering on Friday, signaling growing momentum among crypto firms seeking to go public in the United States.

The firm, founded by Cameron and Tyler Winklevoss, said it had "confidentially submitted a draft registration statement" with the U.S. Securities and Exchange Commission tied to a proposed IPO of its Class A common stock.

"The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined," according to a statement from Gemini. "The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions."

Gemini's move comes after stablecoin Circle filed for an IPO in April and began trading this week. Crypto exchange Kraken is also reportedly looking to file for an IPO.

The crypto industry overall is experiencing a friendlier regulatory environment since President Donald Trump took office in January. Since Trump has vowed to make the U.S. the "crypto capital" and has appointed crypto-friendly regulators to key federal agencies, including at the SEC. 

Gemini was founded by Cameron and Tyler Winklevoss, both of whom have been supporters of Trump and donated millions worth of bitcoin to the president during his campaign.

The SEC, under the previous administration, sued Gemini in 2023 for allegedly offering unregistered securities through its Gemini Earn program. Later in April 2025, the SEC and Gemini filed a joint motion to seek a "potential resolution."