The recent 6 Feb report of Cameron and Winklevoss-backed, NY-headquartered crypto exchange Gemini considering an IPO in 2025 has once again put the limelight on the deliberations surrounding the ‘centralised crypto exchanges (CEXs) going public’. The positive scenario of crypto exchanges going public first caught significant public attention after one of the major crypto exchanges, Coinbase, went public via direct listing on April 14, 2021. The crypto world witnessed the spectacular financial market performance of Coinbase’s listing, right on the first day – with its stock (COIN) reaching as high as $429 -though it fell after it due to market volatility. The unprecedented surge in Coinbase’s user acquisition – reaching 110 mn in Q4 2022 from just 68 mn in Q2 2021 – further compliments the benefits accrued to Coinbase after it.
The milestone set out by Coinbase in the crypto industry had opened up the queue to follow ups with other exchanges – recent being Gemini – c
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