Wednesday, January 20, 2021

After Coinbase, Winklevoss Twins are considering to go public with Gemini.

The Takeaway:

Cameron and Tyler Winklevoss said they're considering taking the crypto exchange Gemini Trust Co. public amid the recent resurgence of interest in cryptocurrencies.

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According to the Bloomberg report, Bitcoin billionaires Cameron and Tyler Winklevoss said they’re considering taking Gemini Trust Co. public amid the resurgence of interest in cryptocurrencies. “We are definitely considering it and making sure that we have that option,” Cameron Winklevoss, co-founder and president of the New York-based digital-asset firm, revealed in an interview. “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,” he added.

 

The crypto exchange announced the launch of the Gemini Credit Card. 

Winklevoss twins started Gemini – now a New York trust company regulated by the New York State Department of Financial Services — in 2014, and the business includes exchange and custody service. The twins are worth about $2 billion each, according to the Bloomberg Billionaires Index. To drive new U.S. customers to the exchange, the company recently announced the Gemini Credit Card launch, which will function as a traditional card but offer up to 3% back in Bitcoin or other cryptocurrencies on every purchase made.

 

Coinbase also confidentially filed to go public. 

An initial public offering, direct listing, or even a merger with a special purpose acquisition company would be the latest attempt by early advocates of Bitcoin, such as the Winklevoss brothers, to unlock their digital wealth. Coinbase, the biggest U.S. cryptocurrency exchange, filed in December with the U.S. Securities and Exchange Commission to go public. As reported earlier, Bakkt Holdings LLC, the cryptocurrency platform majority-owned by Intercontinental Exchange Inc., plans to go public through a merger with a blank-check firm. Institutional interest in bitcoin has surged massively in the last couple of years as bitcoin continues to witness its biggest winning rally. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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