Gemini must now respond to SEC comments, update financial statements, and set offer terms before marketing shares to investors. The SEC must declare the registration effective before sales can begin.
Market participants pointed to Circle’s performance as a catalyst for other private crypto firms.
Blockworks co-founder Jason Yanowitz wrote that investment banks “are saying it’s go time,” while Moonrock Capital chief executive Simon Dedic said the debut shows public investors will pay for revenue-generating platforms.
Gemini’s filing arrives during the same week, suggesting how quickly executives are acting on favorable equity market conditions.
