Gemini, a cryptocurrency company backed by Cameron and Tyler Winclevos, is set to move to office space in South Florida after the US Securities and Exchange Commission (SEC) enforcement lawsuit concludes. The company is scheduled to move to its new office in May.
The new office size Gemini agreed to lease is 8,840 square feet (821 square meters) at 545wyn in Miami’s Winwood district.
Wynwood has developed into a new business growth center, attracting many businesses
Miami neighbour, Winwood, is famous for its warehouses and graffiti murals, and has evolved into a new center for residential and business growth.
In support of this, several companies have established offices nearby in recent years. This includes investment companies such as Spotify Technology SA, Peter Thiel’s Founders Fund and Marcelo Claure. Additionally, Amazon.com Inc. has also signed a Wynwood office lease. The office was the largest in the district’s history this year.
Additionally, in 2020, Sterling Bay developed the 545Wyn office building, a 10-storey building in Miami’s Winwood district, to accommodate Gensler, Sony Group Corp. and PWC. Following the addresses of businesses around Winwood, Gemini addresses are 545 NW 26th St., Gensler, Sony Group Corp., and PWC addresses are 545 NW 26th St.
Building on Gemini’s decision to open a new office in Winwood, Vice Chairman of Blanca Commercial Real Estate, Juan Lewis, Florida’s independent commercial real estate services company, said:
“Gemini’s decision to plant a flag at 545wyn speaks volumes about Winwood’s evolution from the arts district to magnets for the finest technology and creative companies looking for a vibrant, walkable neighborhood.”
Blanca also acted as a landlord’s agent in the contract.
Gemini files for Confidential IPO applications
Gemini recently submitted a confidential offer to an initial public offering (IPO). Crypto Exchange and Custodian is working with Goldman Sachs Group Inc. and Citigroup Inc., according to individuals whose identity was not revealed due to the confidentiality of the information.
In particular, Gemini was thinking of making it public soon this year. In February, Cameron Winklevoss posted to X that the list would arrive after the US Securities and Exchange Commission’s investigation was over.
According to a January filing, the business paid $5 million to settle the lawsuit brought by the Commodity Futures Trade Commission.
If Gemini goes on to the public listing process, it will be a small but increasing number of cryptocurrency companies, taking into account the IPOs of US stock exchanges, including Kraken, Circle, Bullish (Coindesk’s parent company), and BlockChain.com.
Gemini recently appointed a new Chief Financial Officer to position himself for a potential early offer. The company’s latest employment, Dan Chen, previously serving as capital market vice president at AFFIRM, announced the move in a social media post.
Sources say the debate is still ongoing and no final decision has been made regarding the IPO. Representatives from Goldman Sachs and Citigroup declined to comment, but a Gemini spokesperson did not immediately respond to a request for comment.
Interestingly, the industry has seen a boom in IPOs since President Donald Trump’s administration embraced cryptocurrency.
