Cryptocurrency company Gemini financially supported by the wealthy Winklevoss twins, is reportedly contemplating launching an initial public offering as early as this year, sources close to the situation suggest.
Bloomberg reports highlighted discussions about pursuing an IPO are ongoing and no decisions have been made.
Companies in the sector have expedited their plans to go public following the election of President Donald Trump, who has emerged as a leading advocate for the cryptocurrency industry.
Cameron and Tyler Winklevoss gave Trump’s campaign more Bitcoin (BTC-USD) than was permitted and received a refund for the difference.
Gemini employs over 500 people in offices in New York, Seattle, Singapore, London, Dublin, and Gurgaon, India.
The company agreed to pay $5 million to settle a lawsuit brought by the Commodity Futures Trading Commission alleging that the company had deceived the derivatives regulator in an attempt to introduce the first Bitcoin futures contract governed by US law.
According to a filing made public in January, Gemini settled without acknowledging or denying liability. As part of a separate settlement with New York regulators regarding the so-called Gemini Earn program, Gemini agreed last year to return at least $1.11 billion to customers through the bankruptcy of Genesis Global Capital.
Read More: Gemini Mulls Listing on U.S Stock Exchange