(Bloomberg) – Gemini, a cryptocurrency company backed by billionaire Winclevos Twins, is considering an early public offering soon this year, according to people familiar with the issue.
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Crypto Exchange and Custodian said they are in discussions with potential advisors on the list, asking that information not be identified because it has not been made public.
Deliberations are ongoing and no final decision has been made regarding pursuing an IPO, people said. Representatives from Gemini did not immediately respond to emails or text messages seeking comment.
The crypto industry’s companies have accelerated plans to be made public after the election of President Donald Trump, who has become a prominent supporter of the sector. Cameron and Tyler Winklevoss have become prominent in conflict with Facebook founder Mark Zuckerberg about social network ownership, both donating Bitcoin (BTC-USD) to Trump’s campaign, exceeding the maximum allowed amount And refunded the difference.
Bruish Global, a crypto asset exchange operator supported by Peter Thiel, is considering an IPO soon this year, according to Bloomberg News.
Gemini has over 500 employees in its offices, including New York, Seattle, Singapore, London, Dublin and Gurgaon, India.
The company agreed to pay $5 million to end the Commodity Futures Trade Commission lawsuit, which claims it misunderstood derivatives regulators to launch its first US regulated Bitcoin futures contract. According to a filing disclosed in January, Gemini resolved in the lawsuit without acknowledging liability or rejecting it.
Last year, Gemini agreed to return at least $1.1 billion to its customers through Genesis Global Capital Dauldcy.
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