Quick overview

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Gemini submitted a confidential statement to the Securities and Exchange Commission (SEC) regarding the IPO of its Class A common stock. Gemini, a cryptocurrency exchange, filed a confidential Form S-1 statement with the SEC and announced its plan to go public.

A press release on Friday stated that the company was considering holding an initial public offering (IPO) of its Class A common stock.

The size of the offering and the price goal have not been revealed due to the nature of the filing. Subject to market conditions, these specifics will be determined after the SEC regulatory assessment.

Gemini’s filing comes amid a broader push by cryptocurrency companies to go public amid regulatory support that has helped the industry since President Trump’s election.

This comes after a March Bloomberg article that stated Gemini had been collaborating with Citigroup and Goldman Sachs on its initial public offering (IPO) following the SEC’s conclusion of its probe into the exchange in February.

 USDC’s issuer, Circle Internet Group, went public on the New York Stock Exchange under the ticker CRCL. The stock has risen to $112 after market hours on Friday from its starting price of $69 on Thursday.

The stablecoin issuer raised an initial $1.1 billion from its first public offering (IPO) on Wednesday after selling 34 million shares of its stock.

Coinbase, a cryptocurrency exchange, joined the S&P 500 in May, replacing Discover Financial Services. The statement caused Coinbase’s (COIN) shares to soar.