NEW YORK, June 6, 2025 /PRNewswire/ — Gemini Space Station, Inc. (“Gemini”) today announced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of its Class A common stock. The number of shares of Class A common stock to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (“Securities Act”). This announcement is being issued in accordance with Rule 135 under the Securities Act.

Contact:
Natalie Rix, press@gemini.com

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The Circle IPO has officially rocked Wall Street. Since debuting on the New York Stock Exchange, shares of Circle Internet Financial (NYSE:CRCL) have climbed a jaw-dropping 288%. The stablecoin issuer priced its IPO at $31, but by Friday afternoon, CRCL shares had surged past $120, capping off a 45% single-day gain and catapulting the company’s market cap above $23 billion.

This sudden and aggressive rally is the biggest post-IPO performance of any major crypto company in 2025—and has traders, analysts, and social media abuzz with opinions on what this means for the broader digital asset sector.

Ark Invest Buys In as CRCL Trading Volume Surges

Adding to the excitement surrounding the Circle IPO, Cathie Wood’s Ark Invest scooped up 4.48 million CRCL shares across three of its ETFs. With over $41.8 million in trading volume recorded before 1:30 p.m. on Friday alone, the public market response suggests overwhelming demand.

As CRCL stock roared higher, it drew comparisons to Coinbase (NASDAQ:COIN) during its frenzied 2021 debut—though some analysts warn that such parabolic climbs often invite pullbacks as early investors take profits or lockup periods expire.

Social Media Reacts to CRCL’s Rise

Crypto Twitter (now known as X) has been saturated with commentary about the Circle IPO. One user claiming IPO pricing experience at Goldman Sachs (NYSE:GS) issued a word of caution: “Wait 90–180 days after IPO to invest,” they wrote. “Not just to allow for price discovery, but because that’s typically when the lockup period ends.”

Others, however, see the rapid appreciation of CRCL as more than just hype. The performance reflects rising institutional appetite for crypto-native companies with real-world revenue and compliance credentials—something Circle has spent years building as the issuer behind the widely used USDC stablecoin.

Will Circle Trigger a Crypto IPO Wave?

Some crypto insiders are now forecasting a wave of IPOs from other digital asset companies. “After the Circle IPO performance, there’s a large probability every equity business with more than $50 million in revenue and a defensible moat will go public,” tweeted user Solana Legend, a well-followed account in the blockchain space.

Potential candidates for follow-on IPOs include MoonPay, Gemini, Kraken, and Phantom—all of which are privately held firms with significant market share in crypto infrastructure, wallets, or trading platforms. If these firms follow Circle’s lead, 2025 could mark a record-setting year for crypto-related public listings.

A Turning Point for Digital Assets

The timing of the Circle IPO couldn’t be better. After a long crypto winter and the regulatory fallout from the FTX collapse, sentiment is shifting. With Bitcoin (BTC-USD) trading above $100,000 and Coinbase recently added to the S&P 500, crypto is increasingly seen as a maturing asset class.

Circle’s decision to go public—and the explosive performance of its stock—may cement this shift, bringing credibility and transparency to a space often criticized for lacking both.

What’s Next for CRCL Investors?

Despite the euphoria, some caution is warranted. The 288% surge in CRCL stock could invite volatility as valuation questions and regulatory scrutiny emerge. Still, the fundamentals behind Circle IPO are strong: the company is a regulated, revenue-generating entity playing a key role in global crypto payments through USDC.

If Circle can maintain its momentum while scaling securely, it may not only validate the bullish case for CRCL but also open the floodgates for other compliant, growth-ready crypto firms to enter Wall Street’s spotlight.

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The highly anticipated Gemini IPO is now officially underway, marking a key moment for cryptocurrency markets in 2025. Crypto exchange Gemini, founded by Tyler and Cameron Winklevoss, has confidentially filed for an initial public offering in the U.S., the company revealed on Friday.

The move comes as renewed investor confidence and market momentum fuel a wave of crypto and fintech IPOs, and could set the stage for a new era of institutional adoption in the digital asset space.

Crypto IPO Momentum Builds

The Gemini IPO follows the successful public debut of Circle (CRCL.N) earlier this week, which saw a strong performance on the New York Stock Exchange. According to Matt Kennedy, senior strategist at Renaissance Capital, “Pre-IPO crypto companies would be crazy not to move ahead with listings after seeing how Circle traded.”

Investor appetite for risk assets—especially in areas like crypto, artificial intelligence, and fintech—is rebounding. After years of volatility, regulatory uncertainty, and market mistrust, crypto firms are re-emerging with stronger narratives and improved fundamentals.

Gemini’s Strategic Timing

Gemini currently enables users to buy, sell, and store over 70 cryptocurrencies, positioning itself as a key player in the U.S. digital asset market. Though the company hasn’t disclosed the size or pricing details of its IPO, industry insiders see its filing as a critical signal.

“Gemini’s IPO contributes to the broader momentum and reinforces the idea that crypto-native firms are increasingly preparing to access public markets,” said Kat Liu, vice president at IPOX. Liu also pointed out that institutional capital is returning, especially toward companies with scalable models in strategic growth areas.

Gemini’s entry to the public markets could boost transparency, increase regulatory engagement, and provide the firm with much-needed capital to expand in an increasingly competitive landscape.

Crypto’s Growing Legitimacy

The Gemini IPO is part of a broader legitimization of the crypto sector. The global digital asset market is now valued at over $3.3 trillion, with Bitcoin (BTC-USD) trading above the $100,000 mark. Institutional interest surged after the SEC approved spot bitcoin ETFs in the U.S., opening the doors for retirement accounts and traditional funds to gain exposure.

Coinbase (NASDAQ:COIN), one of Gemini’s top competitors, was recently added to the S&P 500, a watershed moment that many believe laid the groundwork for other crypto firms to follow suit.

“If equity underwriters smell a new fee stream, expect the calendar to unfreeze for everything from fintech to AI chips,” said Michael Ashley Schulman, CIO at Running Point Capital Advisors. He notes that Gemini’s IPO, if successful, will confirm that the “crypto thaw” is real.

From Lawsuit to Wall Street

Tyler and Cameron Winklevoss first gained fame from their lawsuit against Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg, alleging he stole their idea for Facebook. That legal battle ended in a 2008 settlement involving cash and META stock—wealth that the twins used to pivot into the crypto industry with the founding of Gemini in 2014.

Now, with the Gemini IPO, the twins appear set to make history again—this time by leading one of the first major post-FTX collapses crypto listings in the U.S.

Will Gemini’s IPO Succeed?

While the details of the Gemini IPO remain confidential, market indicators suggest strong interest. After years of skepticism and setbacks, crypto markets are enjoying renewed optimism thanks to clearer regulations, broader adoption, and support from high-profile political figures—including Donald Trump, who has promised to be a “crypto president.”

As Gemini steps into the public spotlight, its performance could set the tone for the next wave of digital asset IPOs—and help solidify crypto’s long-awaited place in the mainstream financial ecosystem.

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DUBAI, UAE, June 6, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, continues its advance in the crypto payment space with a limited-time campaign for the Bybit Card. Exclusive to new global users of Bybit Card, the new promotion unlocks 10% cashback in its new phase of global expansion.

The evolving payment solution eliminates traditional boundaries between digital assets and real-world transactions across markets. Championing crypto freedom, the Bybit Card elevates global convenience and access to premium events and partnerships for the crypto community wherever they are headed. Since celebrating its second anniversary at Bybit’s Dubai headquarters, the Bybit Card has unlocked for its users exclusive benefits at the Grand Millennium Hotel in Dubai, and subscription perks for selected AI tools and streaming services.

30-Day Incentive: All Spending Categories Accepted

Eligible for global users with more international markets unlocked, the new cashback scheme potentially offers new users an extra $150 in rewards in three simple steps:

1. Applying for a Bybit Card subject to verification and approval
2. Making a first-time deposit equivalent to $100 in value
3. Spending on eligible crypto transactions with the new Bybit Card in the next 30 days for 10% cashback on all eligible transactions

Existing Bybit users may also enjoy the same cashback rate up to $75 during the promotional period.

Global Accessibility, Unmatched Convenience

The Bybit Card serves nearly 2 million users worldwide as a gateway for secure and instant crypto spending at over 90 million global touchpoints. More than a payment tool, it also offers earning opportunities through cashback, rewards, and APR on crypto balances.

Incorporating crypto into their way of life in everyday spending, Bybit Card holders can tap or swipe to pay in an instant around the world. Whether they are booking a flight with Cathay Pacific or sipping a cocktail at the Ritz, users stand to get 10% back with the Bybit Card.

Key Features: 

• Crypto convenience: seamless spending in crypto, and cash withdrawals from supported ATMs around the world with the physical card available to Mastercard holders.
• No annual fees and up to 8% APR on balances.
• Year-round perks: 100% rebates on subscriptions including Netflix, Spotify, and selected AI tools, airport lounge access, and other benefits refreshed seasonally
• Multi-asset support: USDC, USDT, BTC, ETH, AVAX, and more.

The promotion is on a first-come, first served basis for a limited time only. Terms and conditions apply. For full benefits and more exclusive rewards, users may explore: Bybit Crypto Card: Your Ultimate Crypto Debit Card.

#Bybit / #TheCryptoArk / #TheBybitCard

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

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After months of explosive growth in the Solana ecosystem, meme coins like Dogwifhat (WIF) are cooling off rapidly. As on-chain metrics slide and investor sentiment wanes, many are now asking: what’s the best Solana crypto to hold ahead of the next bull run?

WIF (WIFUSDT) recently dipped below the $1 mark, down over 36% from its peak earlier this year. Once the poster child of Solana’s meme coin craze, WIF now faces mounting sell pressure. On-chain data reveals that “smart money” investors have reduced their positions by more than 50%, with whale holdings also declining by 22%.

Meme Coins Fade as Utility Gains Traction

This isn’t just a WIF-specific issue. The broader Solana meme coin market is experiencing a cooldown. Daily DEX volume has fallen to a six-month low of $2 billion, and stablecoin transfer volumes are down from $20 billion to just $2 billion. These declines signal reduced liquidity and engagement across Solana-based DeFi.

Even more telling, the number of new meme coin launches has dropped more than 50% since January. Meanwhile, declining transaction volumes are weakening deflationary pressures, since Solana burns 50% of all transaction fees.

Despite these headwinds, Solana remains a top-three blockchain by activity, and its real utility may now be taking center stage.

Solaxy: A Utility-Driven Contender for Best Solana Crypto

As meme coins lose momentum, utility-first projects are stepping into the spotlight — and Solaxy may be leading the charge as the best Solana crypto of 2025.

Solaxy (SOLX) is the first Layer-2 solution built for Solana. Its mission is clear: increase scalability, reduce failed transactions, and make building on Solana faster and more efficient. That alone is significant, as Solana has faced network congestion in the past due to its rapid adoption.

Solaxy’s infrastructure is already partially live. Developers are testing bridges, deploying smart contracts, and monitoring rollup activity via the Solaxy testnet. The ecosystem includes a custom block explorer and a cross-chain bridge, laying the groundwork for what could become the backbone of Solana’s Layer-2 economy.

Strong Growth and Real Use Cases

Solaxy’s momentum is backed by numbers. The project has raised over $44.3 million ahead of its token launch, with investors joining via SOL, ETH, BNB, USDT, or even credit cards. The presale has just 11 days left, and all purchased tokens can be staked immediately, offering returns of up to 91% APY.

Importantly, Solaxy is building beyond speculation. It will launch Igniter Protocol and Solaxy DEX, enabling seamless token creation, trading, and liquidity provisioning — a key differentiator from the meme coin market, where value often hinges on hype alone.

Its integration with the Best Wallet app also gives users a KYC-free, privacy-focused option for managing assets — an increasingly attractive feature as crypto regulations tighten globally.

Solana Ecosystem Still Has Fuel

Even as WIF and other meme coins falter, Solana’s fundamentals remain strong. In May alone, Solana posted $121 million in Real Economic Value (REV) — up 37% month-over-month and more than Ethereum (ETH) or TRON (TRX). Application revenue across top platforms like Pump, Axiom, and Raydium (RAYUSDT) reached $214 million, showing that builders are still very active on the network.

Talk of a Solana ETF is further fueling speculation that the ecosystem may soon regain momentum. But this time, it could be utility-driven crypto — not meme coins — that takes the lead.

Final Thoughts

While hype-driven tokens like WIF captured attention during the last Solana bull run, the current pullback is separating speculation from substance. Projects like Solaxy, with real infrastructure, developer adoption, and strong fundraising, offer a compelling alternative.

If you’re looking for the best Solana crypto to buy ahead of the next leg up, Solaxy is one to watch — and possibly the next breakout story in the evolving Solana landscape.

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