Gemini Twins Eye IPO Amid Trump's Crypto Shifts

US-based cryptocurrency exchange Gemini, founded by the Winklevoss twins, is reportedly considering an initial public offering (IPO) later this year, according to a Bloomberg report. The billionaire founders, Tyler and Cameron Winklevoss, are exploring the possibility of launching an IPO as a means of raising funds for their crypto firm.

The talks are still in the early stages, and no firm decisions have been made. However, the move comes as President Donald Trump has reshaped the regulatory landscape for cryptocurrencies through executive actions. The Winklevoss twins have previously been critical of former SEC Chair Gary Gensler, describing him as an "evil man with sociopathic ambition." They donated heavily to Trump's campaign, noting that Kamala Harris would have been disastrous for the industry.

Earlier this year, the Winklevoss twins agreed to pay a $5 million fine to the U.S. Commodity Futures Trading Commission (CFTC) to end a lawsuit against them. The lawsuit alleged that the twins made false or incomplete statements. The IPO consideration comes as the crypto industry continues to grow and attract mainstream investors.