Gemini Plans to Move into Office Space in South Florida
Supported by Cameron and Tyler Winklevoss, cryptocurrency company Gemini intends to enter office space in South Florida as the enforcement action by the U.S. Securities and Exchange Commission (SEC) may have come to an end. The company plans to move into the new office in May.
The new office size that Gemini has agreed to lease is 8,840 square feet (821 square meters) at 545Wyn, located near Wynwood in Miami.
Wynwood Has Become a Hub for Business Growth
Wynwood, a neighborhood in Miami known for its warehouses and graffiti murals, has evolved into a new center for residential and commercial growth. In support of this, several companies have established offices nearby in recent years, including Spotify Technology SA, the Peter Thiel Founders Fund, and Marcelo Claure’s investment firm. Additionally, Amazon.com Inc. has also signed an office lease in Wynwood, marking the largest office lease in the region’s history this year.
Furthermore, in 2020, Sterling Bay developed the 545Wyn office building, a 10-story structure located near Wynwood in Miami, which hosts tenants such as Gensler, Sony Group Corp., and PWC. Following the company’s address in the Wynwood community, Gemini’s address will be NW 26th St. 545, while Gensler, Sony Group Corp., and PWC will be located at 545 NW 26th St.
Commenting on Gemini’s decision to open a new office in Wynwood, Juan Ruiz, Vice President of Blanca Commercial Real Estate in Florida, stated:
“Gemini’s decision to plant its flag at 545Wyn tells the story of Wynwood’s evolution from an arts district to a top magnet for technology and creative companies seeking a vibrant, walkable community.”
Blanca also serves as the landlord’s representative in the transaction.
Gemini Files for Confidential IPO Application
Gemini has recently filed for a confidential initial public offering (IPO). According to the information, which is confidential, the cryptocurrency exchange and custodian is working with Goldman Sachs Group Inc. and Citigroup Inc.
Notably, Gemini has been considering going public this year. In February, Cameron Winklevoss posted on X that a listing would be pursued after the SEC’s investigation into the exchange.
According to a filing from January, the Commodity Futures Trading Commission had previously brought a lawsuit, which the company settled for $5 million.
If Gemini continues with the public listing process, it will be part of a growing but limited number of crypto-native companies considering a listing on U.S. exchanges, including Kraken, Circle, Bullish, the parent company of Coindesk, and Blockchain.com.
Gemini recently appointed a new Chief Financial Officer as it positions itself for a potential IPO. The company has recently hired Dan Chen, who previously served as Vice President of Capital Markets, and announced this move via social media posts.
Sources indicate that discussions are still ongoing, and no final decision has been made regarding the IPO. Representatives for Goldman Sachs and Citigroup declined to comment, while a Gemini spokesperson did not immediately respond to a request for comment.
Interestingly, since the Trump administration embraced cryptocurrencies, the industry has seen a surge in IPOs.
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