Circle’s success fuels Gemini’s IPO move as ‘crypto firms can’t wait!’

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Crypto Circus: Will Gemini Join the IPO Party or Just Juggle?

  • Gemini goes down the IPO route, amid rising crypto market optimism
  • IPO filing a sign of growing Wall Street interest in digital assets

In a remarkable twist of fate within the realm of stablecoins and crypto, Circle’s USDC has decided to follow in the footsteps of Tether’s USDT, amassing a staggering \$263.77 million in on-chain transaction volume, as revealed by Visa’s on-chain analytics. Who knew numbers could dance like that? 💃

Then came the grand spectacle of Circle’s debut on the New York Stock Exchange, where the USDC stablecoin issuer managed to raise over \$1 billion through its Class A stock offering. Talk about a financial magic trick! 🎩✨

Gemini files for IPO

In light of this dazzling performance, Gemini, the brainchild of billionaire twins Tyler and Cameron Winklevoss, has decided to confidentially file for an initial public offering (IPO) in the United States. Because why not? Everyone loves a good plot twist! 😏

According to a recent statement, Gemini has submitted a draft registration on Form S-1 to the U.S. Securities and Exchange Commission. This marks a pivotal moment in their quest to take their Class A common stock public. Will they succeed, or will it be a tragicomedy? 🎭

These back-to-back developments underscore the growing appetite of investors for crypto firms, even among the traditional financial institutions that once scoffed at the idea. Oh, how the tables have turned! 🍽️

However, it’s worth noting that despite all the fanfare, Gemini’s co-founders have yet to publicly address this bold move. And the SEC? Well, they’re keeping everyone on the edge of their seats, not revealing the exact timing of their review. It’s like waiting for a sequel that may never come! ⏳

“You take it” – IPO experts react to timing

Reactions to this announcement have been as varied as a buffet at a wedding. For instance, Matt Kennedy, Senior Strategist at Renaissance Capital, a provider of IPO-focused research and ETFs, remarked,

“Pre-IPO crypto companies would be crazy not to move ahead with listings after seeing how Circle traded. Crypto can be an unpredictable market, so when you get a chance like this, you take it.”

IPOX’s Kat Liu chimed in, echoing this shift and adding that crypto firms with structured business models in high-growth verticals now appear better positioned to go public. It’s like watching a game of musical chairs, but with money! 💸

This tailwind comes as sentiment gradually tilts back in favor of digital assets, both retail and institutional. Who knew the crypto rollercoaster could have such ups and downs? 🎢

For Gemini, this IPO move also follows its commitment to fully reimburse users affected by its defunct Earn program – an effort to restore user trust before going public. Because nothing says “trust us” like giving back what you owe! 🤷‍♂️

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2025-06-08 02:20