Catenaa, Friday, February 07, 2025 – Cryptocurrency exchange Gemini is considering an initial public offering as early as this year, Bloomberg reported, citing sources familiar with the matter.
The firm is in discussions with advisers but has not made a final decision.
The potential listing follows President Donald Trump’s push to establish the US as a global hub for artificial intelligence and cryptocurrency. Crypto-friendly regulators, including Securities and Exchange Commission Commissioners Hester Peirce and Mark Uyeda, are also advancing clearer regulatory frameworks.
Gemini’s move comes as rival exchange Bullish weighs a public listing after canceling a 2021 SPAC merger.
Since Coinbase’s direct listing in April 2021, few crypto-native firms have gone public. Stablecoin issuer Circle, which previously dropped SPAC merger plans, is also reportedly revisiting a public offering.
In January, Gemini appointed three senior executives to oversee European expansion. The firm secured a Virtual Asset Service Provider (VASP) license in France in November 2024, allowing it to operate across the EU.
Gemini recorded $5.88 billion in spot market trading volume in January, down 6.92% from the prior month, according to reports .
