Crypto ( CRCW ) exchange and custodian Gemini has confidentially filed for an initial public offering (IPO), Bloomberg reported, citing people familiar with the matter.

The firm, founded by billionaire Cameron and Tyler Winklevoss, is working with Goldman Sachs ( GS ) and Citigroup ( C/PN ), the report said, noting that no final decision has been made on the listing.

The potential IPO comes after the U.S. Securities and Exchange Commission (SEC) ended its investigation into Gemini without taking action, according to a February post by Cameron Winklevoss. The company also settled a separate Commodity Futures Trading Commission lawsuit in January for $5 million.

Gemini is among several crypto firms lining up to list their companies in the U.S. public market after the SEC has been in a full-scale litigation retreat in the first months of the Trump administration.

Just today, Bloomberg reported that Crypto ( CRCW ) exchange Kraken is considering an IPO by the first quarter of 2026, adding to the reports that firms such as Circle, Bullish (parent company of CoinDesk) and Blockchain.com are also queueing up for a U.S. listing.