Gemini has applied for an IPO. This follows the recent success of Circle. However, this move has raised skepticism within the community. Some key opinion leaders are wondering if this IPO is a bubble indicator.
The company has shown interest in an IPO for several months. Cameron Winklevoss recently hinted at significant future developments in a public appearance.
Gemini's New IPO Description
Gemini, a centralized cryptocurrency exchange founded by the Winklevoss brothers, was not on the cryptocurrency industry's IPO radar. However, after Circle's recent IPO achieved overwhelming success, the exchange is joining this trend. According to Gemini's press release, the company has applied to initiate its own IPO:
Gemini's IPO is not a big surprise. The company has been hinting at such developments for months. At a recent Bitcoin conference, Cameron Winklevoss explained bold plans for his company and the cryptocurrency industry. The IPO certainly aligns with those plans. However, some influential community members are wondering if this is oversaturating the market:
"Oh, here comes the next one. This cycle has Bitcoin treasury companies and IPOs. I doubt Gemini is a good investment, just like Circle wasn't, and look at how they're valued. A bubble is forming." – WhalePanda claimed on social media.
In other words, some key opinion leaders believe Gemini's IPO could be a market peak indicator. The company has achieved several developments recently. However, an IPO does not necessarily mean strong fundamentals. Everything is still in the early stages.
