Winklevoss Twins Double Down on Crypto with $433M Gemini IPO Push

Gemini Trust Company, the cryptocurrency exchange co-founded by Tyler and Cameron Winklevoss, has increased its U.S. stock initial public offering (IPO) fundraising target to $433 million, according to a recent Securities and Exchange Commission (SEC) filing. The company is expected to price its shares between $17 and $19, which would value the firm at approximately $316 million. Upon listing, the exchange will trade under the ticker symbol GEMI. The Winklevoss twins will maintain significant control, retaining 94.7% of the voting power post-IPO.

The fundraising boost aligns with the broader strategic efforts of the Winklevoss twins, who have been vocal advocates for a pro-crypto policy environment. These efforts include a $21 million bitcoin donation to the Digital Freedom Fund PAC, which supports political candidates favorable to the crypto industry. The brothers have attributed the recent shift in regulatory tone to the Trump administration, noting the repeal of certain policies that had previously imposed restrictions on market participants.

Tyler Winklevoss has emphasized the importance of the upcoming midterm elections, warning that a Democratic victory could reverse recent regulatory progress and reintroduce what he describes as “bad faith tactics and lawfare.” The administration’s actions, including the passage of the pro-innovation GENIUS Act, have been credited with creating a more hospitable landscape for institutional adoption and growth in the U.S. digital asset market. This legislative shift coincides with a period of heightened institutional interest in crypto, according to data from the IndexBox platform.

Gemini’s IPO comes amid a broader shift in the U.S. crypto regulatory landscape. The exchange has consistently advocated for a streamlined regulatory approach, favoring a “skinny” market structure bill over a more comprehensive framework like the Dodd-Frank Act. The twins believe that a broad regulatory overhaul could stifle innovation and hinder market development. Their strategy reflects a broader trend among crypto firms seeking to align with regulatory bodies to foster a stable and transparent market environment.

The increased fundraising target suggests strong investor confidence in Gemini’s long-term prospects. The exchange has positioned itself as a trusted player in the crypto space, with a focus on institutional clients and compliance-driven operations. The IPO represents a strategic milestone for the company, enabling it to raise capital while maintaining control and vision. As the crypto market continues to evolve, Gemini’s public listing could serve as a benchmark for regulatory clarity and market confidence.