Tyler and Cameron Winklevoss, billionaires and magnates in the Bitcoin industry, have recently issued a statement stating. They are considering taking Gemini Trust Co. public due to the explosive interest in cryptocurrencies. Cameron Winklevoss, Co-founder of the New-York digital firm, has noted this surprising fact through an interview. He is openly acknowledging that the possibility isn’t so far-fetched due to how successful cryptocurrencies are becoming once again.
Moreover, the Winklevoss twins have various options to take Gemini public, including an IPO (initial public offering) or merging with a blank-check firm. Admittedly, Bitcoin futures exchange Bakkt currently used the latter route by combining with VPC Impact Acquisition Holdings, a particular purpose acquisition company. Fellow U.S. crypto exchange platform Coinbase is also progressing towards a public listing via an IPO. The company has now filed a draft registration with the Securities and Exchange Commission and is in conversation with Goldman Sachs.
Gemini Trust’s future Bitcoin projects
The Gemini Trust Company’s IPO is a prominent event for anyone involved in Bitcoin. The brothers who filed a lawsuit against Mark Zuckerberg for borrowing ideas provide an exchange and a custody service involving a debit card specialized in Bitcoin functionalities. This card offers a 3% cashback in BTC or any other cryptocurrencies on top of running like any other debit card. This would probably suggest investors could make more money the higher they consume on everyday pleasures like food, leisure activities, etc.
Currently, Gemini unveiled that it had passed the $10 billion mark in assets under custody. In April 2020, the exchange obtained a Service Organization Control certification from the “Big Four” accounting firm Deloitte. Meanwhile, Gemini is ready to launch a credit card service with a 3% Bitcoin rebate feature. The company also acquired crypto payments startup Blockrize, which already has a waitlist of 10,000 people for the Gemini credit card. As earlier reported, the Winklevoss twins are the richest Bitcoin billionaires, with a mixed worth of about $2.8 billion in BTC, according to Forbes. They famously funded $11 million into Bitcoin back in 2013.
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