The cryptocurrencies paved the way for an array of benefits to people. Crypto exchanges like, Gemini, Coinbase, Bitfinex, and many more made immense profit over the years while generating jobs for several. Now, while the crypto industry is worth $1 trillion, the globe is taking interest in it. As the demand for exchanges has been surging amidst this highly volatile period of crypto, prominent digital asset platform, Gemini revealed that it was considering going public.
Gemini Considers Going Public
Recently, Bloomberg reported that the Winklevoss twins, Tyler and Cameron Winklevoss were contemplating taking their crypto platform, Gemini public. The duo was reportedly yearning to take the Gemini Trust Co. public either by signing a merger with a special-purpose acquisition firm or via an initial public offering [IPO]. Speaking about the same, Cameron Winklevoss said,
“We are definitely considering it and making sure that we have that option. 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.”
It wasn’t long ago that Coinbase revealed it was prepping to go public. The exchange even wanted banking giant, Goldman Sachs to spearhead its IPO.
The Winklevoss twins have been widely endorsing Bitcoin for several years now. While people have been cribbing about the king coin’s volatility, the founders of Gemini revealed that they were HODLers. Cameron Winklevoss said,
“We are very much ‘hodlers’ at this price. We have a lot of exposure as it is, so we are not actively looking to increase our position.”
While this news surfed the crypto industry, Gemini made an announcement regarding the launch of the Gemini Credit Card. The card will reportedly allow users to garner crypto rewards on everyday purchases. Users would have to join the waitlist to bag one of these credit cards after which users would be able to acquire up to 3% back in Bitcoin as well as other crypto-assets.