Billionaire Winklevoss Twins-Backed Exchange Gemini Files With SEC For Planned IPO

Gemini Space Inc., a cryptocurrency exchange founded by the Winklevoss Twins, is set to become a publicly traded company.  The company has announced that it has taken the next step toward its goal by submitting a draft of a registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC).

This is part of a wider trend of crypto-native companies going public.  It demonstrates that public interest in cryptocurrency and crypto-related businesses continues to grow and that cryptocurrency has become an integral part of mainstream finance.

What Did Gemini Space Inc Do?

Gemini Space has already taken several steps to signal its moves toward going public, and the official application proves that those efforts have been successful.  For instance, a few months ago, the company hired advisors from Goldman Sachs and Citigroup.

Gemini has also settled the lawsuits with the Commodity Futures Trading Commission.  They ended up paying $5 million.  Companies that go into setting up an IPO with ongoing lawsuits usually aren’t approved by the SEC.  It also has relatively stable finances, and the market for crypto-based companies has been growing increasingly over the last couple of years.

The State of the Crypto Market

The cryptocurrency market has experienced significant growth over the past few years.  This is mostly due to the wider acceptance of cryptocurrencies as a financial asset.  Cryptos are still used as a payment method for online gambling, as noted in this BC. Game review, which shows them to be a safer way to wager online.  However, they are also used by traditional businesses and moderate investors.
Some cryptocurrencies have taken a dive in the last couple of months due to the tariff dispute, but they’ve also bounced back much faster than traditional assets, which were also hit.

Who are the Winklevoss Twins?

The Winklevoss twins, Cameron and Tyler Winklevoss, are American entrepreneurs most well-known for their role in creating Facebook.  The two were part of a lawsuit against Mark Zuckerberg, in which they accused Zuckerberg of stealing their idea for social media.  The suit was resolved via settlement.

Trading Circle Stablecoin

There is a renewed interest in crypto-related assets, which makes Gemini’s decision to pursue an IPO a smart move.  For instance, stablecoin issuer Circle (CRCL) introduced its own initial public offering (IPO) and began trading on the stock market.  Stablecoins aren’t always a reliable indicator of how crypto-based businesses are performing, as they are tied to the value of fiat money, but they are a digital asset.

Shares of Circle surged on its first day of trading Thursday, closing at $83 after going public at $31.  At this point, they are trading at a price of around $113, which is 234 percent of the initial IPO price.

Other Crypto-based Assets on the Stock Market

Crypto-based companies have recently created their own initial public offerings (IPOs) and gone public.  These include exchanges, browsers that use blockchain to provide security, coins, and financial service industries focused on crypto investing.  Almost all of them have shown growth since their introduction.

eToro

eToro is an Israel-founded online social trading platform and brokerage.  It supports trading in cryptocurrencies, as well as stocks and other commodities.  The main advantage is the ability for novice users to copy the trades of those with more experience.  It went public in 2024 and is now trading at $75, compared to $52 when it was first introduced.

Galaxy Digital

Galaxy Digital is a cryptocurrency-focused merchant bank and investment firm.  It offers trading, lending, mining, asset management, and data center services.  It went public in 2025 and focused its offering on AI features that assist the trade.  The IPO is in the red after the first quarter, at a rate of approximately 4 percent.

Exodus Movement

Exodus Movement is a company that provides custodial crypto wallets.  It’s a highly sought-after commodity for crypto traders who prefer not to have their assets held by crypto exchanges after they’ve completed a trade.  The company has had an IPO since 2024, and its value has jumped 37 percent since its founding.

Amber and Fold Holdings

Amber International is an institution crypto financial service, and Fold Holdings is a Bitcoin payment service.  They’ve been available as IPOs since 2025 and merged in the same year.  They’ve had about $11 million in profits since March when they were first introduced to the stock market.

To Sum Up

Gemini Files, a crypto-based company founded by the Winklevoss brothers, who are also known for their role in founding Facebook, will become a publicly traded company.  It has filed the proper paperwork to do so and put its financial affairs in order, allowing it to issue shares.  This is part of a larger trend of bringing crypto companies to the stock market, which indicates public interest in them.