Crypto exchange Gemini has confirmed its plans to go public by filing a draft registration statement for an initial public offering (IPO) with the U.S. Securities and Exchange Commission. This announcement follows the successful debut of USDC issuer Circle on the New York Stock Exchange, in which Circle's stock surged significantly after its IPO. Analysts caution investors against buying shares too quickly post-IPO, suggesting a wait period to allow for price discovery due to typical lockup periods. Additionally, Strategy has announced an upsize of its preferred stock offering to $1 billion, promising a 10% yield, aimed at enhancing its Bitcoin purchasing power. However, this comes with increased risk for investors, as the new preferred stock is subordinated to previous shares, indicating that in the event of bankruptcy, these investors would be paid after senior creditors. The article underscores the continuing volatility and investor excitement within the crypto market as Gemini seeks to follow in Circle's footsteps, amidst a backdrop of rising investor interest and scrutiny in crypto IPOs.

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