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The Winklevoss brothers are reportedly considering another IPO for Gemini after deciding not to pursue a public listing in 2021.
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The founders of cryptocurrency exchange Gemini, Tyler and Cameron Winklevoss, are reportedly considering an initial public offering as early as this year.
Gemini, which first eyed a public listing in 2021, is reportedly in talks with potential advisers on a listing, according to a Feb. 6 report from Bloomberg, which cited people familiar with the matter.
Deliberations are ongoing and no final decisions have been made, Bloomberg said.
Cointelegraph reached out to Gemini but didn’t receive an immediate response.
In January 2021, the Winklevoss brothers reportedly said: “We are watching the market and we are also having internal discussions on whether it makes sense for us at this point in time. We are certainly open to it.”
Gemini also considered forming a “juggernaut” merger with the now-bankrupt Digital Currency Group. CEO Barry Silbert claimed the company could have competed with the likes of Coinbase and FTX, but it also went bankrupt in late 2022.
Silbert said the merged companies could have become the largest cryptocurrency custodians in the world — but the Winklevoss brothers eventually walked away from the idea.
Gemini’s reported fresh IPO plans come as crypto asset manager Bitwise predicted that at least five “crypto unicorns” would seek a public listing in 2025. It named Circle, Figure and Kraken as potential candidates in a December report.
Bullish Global, a crypto exchange backed by billionaire Peter Tiel, is also considering an IPO, Bloomberg reported on Feb. 5.
Related: Gemini won’t hire MIT grads unless university drops ex-SEC chair Gensler
In January, Gemini agreed to pay $5 million to end a lawsuit with the US commodities regulator for allegedly making false or misleading statements in relation to its 2017 bid to launch the first US-regulated Bitcoin futures contract.
Gemini settled without admitting or denying liability in the case.
It also returned around $1.1 billion to customers of the Gemini Earn Program through the Genesis Global Capital bankruptcy proceedings.
The crypto platform also paid a $37 million penalty for several compliance failures “that threatened the safety and soundness of the company.”
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This article first appeared at Cointelegraph.com News
