Latest news with #Winklevoss
Yahoo
4 days ago
- Business
- Yahoo
Gemini Rolls Out Tokenized Stocks in EU, Starting With Strategy Shares
Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has begun offering tokenized stocks to customers in the European Union (EU), the firm announced on Friday. The rollout started with tokenized shares of Strategy (MSTR), known as the world's largest corporate bitcoin BTC holder, with more stocks and exchange-traded funds (ETFs) to be added in the coming days, the firm said in an X post. Gemini said it partnered with Dinari, a firm focused on tokenizing real-world assets, to issue the tokens. Dinari obtained a broker-dealer registration from the Financial Industry Regulatory Authority (FINRA) earlier this week, allowing the firm to offer tokenized versions of U.S. stocks. The move comes as demand grows for bringing traditional financial instruments such as equities onto blockchain rails, also known as tokenization of real-world assets. Crypto exchanges Coinbase and Kraken are also seeking to expand into tokenized securities trading, while Robinhood is reportedly working on offering tokenized U.S. stocks for EU users. Gemini last month secured a MiFID II license from Malta that allows it to offer derivative products across the European Economic Area. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
5 days ago
- Business
- Forbes
Crypto IPO: 3 Things You Need To Know About The IPO Season
The Wall Street sign in the Financial District of Lower Manhattan in New York City. Circle's successful IPO has sent a signal. A strong one. The crypto world is heating up again, but this time, it's happening on Wall Street. Crypto companies are making a comeback after a long period of regulatory uncertainty. Circle, the stablecoin issuer, has initiated a global sensation in capital markets. Understandably so. Circle's recent debut on the New York Stock Exchange as CRCL was impressive, to say the least. CRCL's share price skyrocketed nearly 600% from its IPO price of $31 to a high of $215 during the day. With a market cap of $45 billion, Circle has quickly become the representative of a new trend, giving rise to a crypto IPO season. Was it a flashy debut? Yes, and for all good reasons. Circle's IPO, the biggest in recent history, marks a major milestone in the industry's journey toward mainstream acceptance. USDC, Circle's flagship stablecoin, is backed by over $32 billion in reserves and is already a core component of onchain finance, serving as a payment medium that dominates the whole crypto ecosystem. But there are three key things you need to know about this year's IPO season to understand this phenomenon. 1. It's Only The Beginning Of Crypto IPOs Just days after Circle's IPO, Gemini, the crypto exchange founded by Tyler and Cameron Winklevoss, confidentially filed paperwork for its own IPO in the U.S. At the same time, all eyes moved onto Kraken, which is reportedly preparing to go public sometime in early 2026. Another company making moves is BitGo, a regulated U.S. crypto custodian. Back in February, reports suggested it was aiming for an IPO as early as 2025. A few other names also stand out as potential IPO contenders: These companies span the entire spectrum, from custody and analytics to wallets and infrastructure. What they have in common is a fresh appetite for public capital and growing investor interest, especially institutional one. As one analyst put it, 'After watching Circle's stock take off, any crypto firm with a clear business model is now looking at the IPO route seriously.' 2. The IPO Process Although the range of companies participating in the IPO summer is wide, crypto exchanges are leading the charge in pursuing US stock market listings. Think Gemini, Kraken, Bullish Global, FalconX, and Bithumb. These types of businesses are particularly well-positioned for public listing due to their strong cash flows, large customer bases, and stable business models that appeal to traditional investors. There are different ways companies can go about executing public offerings. Traditional IPOs remain the gold standard, particularly for mature companies with strong compliance records and established business operations. However, this process is very complex and time-consuming, making it most suitable for larger platforms with proven business models and solid profitability. That's why for smaller cryptocurrency companies seeking a faster path to public markets, reverse mergers have become a popular alternative. Companies, such as TRON, have successfully leveraged this approach by acquiring existing public companies to quickly gain access to the stock market, bypassing the lengthy traditional IPO process. Meanwhile, some companies are opting for direct listings. This is shown by Kraken's approach, which achieved a $16.2 billion valuation. They were able to create market liquidity for their shares without the need to raise new capital, making it ideal for firms that don't necessarily require additional funding but instead want to provide exit opportunities for existing shareholders. 3. High Crypto IPO Expectations Circle has definitely set a high bar. Its stock soared, boosting confidence across the crypto sector. But Circle isn't your typical crypto company. Their stablecoin, USDC, is a go-to onchain payment solution. In addition, its business model—earning yield on reserve assets—is easy for traditional finance folks to understand. Retail and institutional demand are growing, and with a government no longer hostile, investors see 2025 as the year when crypto companies leverage the IPO playbook. The dramatic shift in institutional adoption is particularly compelling. As of January 2025, 86% of institutional investors reported having exposure to digital assets or planned to make digital asset allocations later in the year. Additionally, recent success stories have proven that crypto companies can achieve substantial valuations in public markets. Circle's roughly $1.1 billion public listing formed the largest crypto IPO in recent history, sparking high expectations among industry experts that more digital asset companies will soon follow suit. However, only time will tell if this crypto IPO summer turns into an IPO supercycle, but Coinbase being the best performing S&P500 stock in June is definitely a promising sign.
Fox News
6 days ago
- Entertainment
- Fox News
'Social Network' sequel led by Aaron Sorkin will focus on Facebook's impact on elections, teens
"The Social Network" is getting a sequel more than 15 years later, according to a new report, with Aaron Sorkin set to direct. Deadline reported that Sorkin will return as screenwriter and also direct a sequel to the acclaimed 2010 drama about Facebook's tumultuous founding. Sorkin won an Oscar for Best Adapted Screenplay and the film also took home awards for Best Original Score and Best Editing. There has not been a production date set yet for "The Social Network Part II." Deadline further reported that Sorkin will direct the sequel for Sony Pictures and, though it's called "part two, it's not a straight sequel but rather a follow-up to the original movie that explored the origins of what would become the world's biggest social media platform." "The Social Network" was based on Facebook CEO and founder Mark Zuckerberg's development of Facebook while a student at Harvard, and the subsequent lawsuits filed against him by fellow students Cameron and Tyler Winklevoss, and Facebook co-founder Eduardo Saverin. The movie was widely praised and a box office hit, although Sorkin admitted taking creative liberties with the story. Since "The Social Network" was released, Sorkin has made comments that suggest what angle he would take in a follow-up film to the hit movie, in which he blamed Facebook for the 2021 Capitol riot. "Facebook has been, among other things, tuning its algorithm to promote the most divisive material possible," Sorkin said last year in a podcast interview. Sorkin added, "Because that is what will increase engagement and because that is what will get you to, what they call inside the hallways of Facebook, the infinite scroll." However, according to Deadline, "sources stress that the new film isn't a 'January 6' movie and will focus not just on the 2020 election, but also Facebook's effect on teens, preteens, violence and countries outside the U.S." Replacing original director David Fincher, Sorkin is reportedly working on finding an ensemble cast. No cast members have been confirmed to return, including Jesse Eisenberg, who portrayed Zuckerberg in the original. Sorkin previously directed "Molly's Game," "The Trial of the Chicago 7," and "Being the Ricardos." Neither Sorkin nor his representation immediately responded to Fox News Digital's request for comment.
CNBC
20-06-2025
- Business
- CNBC
Coinbase secures EU crypto license, swaps Ireland for Luxembourg as main hub
Coinbase has secured a license from Luxembourg to offer crypto services across the European Union and will make the country its central hub in the region. The U.S. crypto exchange's main European base has been in Ireland since 2023. Coinbase said Friday that it obtained its Markets in Crypto Assets (MiCA) license from Luxembourg's Commission de Surveillance du Secteur Financier (CSSF). MiCA is a sweeping regulation that aims to create a harmonized legal framework for crypto across all 27 EU member states. The rules, which came fully into force late last year, also aim to reduce risks for consumers buying crypto assets following a series of scandals in the sector. It makes Coinbase the first U.S. crypto exchange to receive a MiCA license. Rival firm Gemini, which is owned by the Winklevoss twins, is expected to receive its own EU license from Malta soon. Gemini chose Malta as its MiCA hub in January. "Coinbase is all in on Europe, and we're advocating for crypto's future across the continent," Coinbase CEO Brian Armstrong told CNBC. "MiCA has set the standard, and Luxembourg is leading the way with its pro-business climate and thoughtful approach to regulation." Previously, Coinbase decided on Ireland as its central EU hub in 2023 and launched a big public relations blitz around the move at the time. However, the company ultimately backtracked on this decision, concluding Luxembourg would make more sense for its status as a "forward-thinking financial hub." "The decision was made less-so due to Ireland, but rather for the reasons that Luxembourg presented a highly compelling option," Daniel Seifert, vice president and regional managing director of EMEA at Coinbase, told CNBC. Luxembourg has four blockchain-related policies that have been signed into law, whereas Ireland currently lacks any crypto-specific laws. He added that Coinbase is still investing heavily in Ireland with "imminent" plans to add around 50 jobs to its local Dublin office. Seifert has also personally relocated to the country from Germany as CEO of Coinbase's Irish entity. Globally, Coinbase isn't the first to receive crypto authorization across the EU — but it is one of the largest. Rival exchanges Bybit, OKX and BitGo have all secured their own respective MiCA licenses.
Coin Geek
19-06-2025
- Business
- Coin Geek
Concerns arise as Coinbase, Gemini set for EU licenses
Getting your Trinity Audio player ready... Coinbase (NASDAQ: COIN) and Gemini, two of the largest digital asset exchanges in the world, look set to be granted licenses to operate as Crypto Asset Service providers (CASPs) in the European Union, under the bloc's Markets in Crypto-Assets (MiCA) regulation, according to a report by Reuters. The June 16 report stated that Gemini, founded by Tyler and Cameron Winklevoss, is on the verge of receiving a license to operate from Malta, while Coinbase, the third-largest digital asset exchange by trading volume, is rumored to be in line for a license from Luxembourg. Despite the MiCA rules being uniform for every country across the EU, with the European Securities and Markets Authority (ESMA) setting guidelines and best practices for member state regulators to follow, the actual enforcement of the regulations is left to the 'relevant national competent authority' (NCA) of each nation. According to the Reuters report—which cited 'sources familiar with the matter' who wanted to remain anonymous—concerns have been raised in 'closed-door meetings' about the speed with which some licenses are being granted by certain regulators and the rigor with which they will enforce the MiCA rules. MiCA license The full MiCA provisions for CASPs came into force at the beginning of January. This included a mandate that CASPs must obtain a license from an NCA (i.e. a national regulator), in order to offer digital asset services within the EU and European Economic Area (EEA). Thanks to the 'passporting' feature of the regulation, a license issued by any member state's regulator allows the licensee (the CASP) to operate throughout the EEA, which includes every country in the 27-nation bloc, in addition to Iceland, Liechtenstein, and Norway. On January 27—a few short weeks after MiCA's CASPs provisions came into force—OKX and both announced themselves as being the first global exchange to secure a MiCA license. It's unclear which one actually was first, as they both claimed the title on the same day . Both exchanges also chose Malta to be their route to a license, but neither mentioned in their respective announcements why they chose Malta. In May, exchanges Bybit and Bitstamp, also obtained licenses; the former from Austria, and the latter became the first exchange to be granted a license by Luxembourg's financial regulator, the Commission de Surveillance du Secteur Financier (CSSF). Now, it appears Gemini and Coinbase are poised to join the club, with Malta and Luxembourg once again the countries of choice. Concerns of uneven enforcement The pace of these approvals, particularly those of Malta's regulator, the Malta Financial Services Authority (MFSA), has apparently raised eyebrows amongst other national authorities. According to the report, a 'senior regulatory official'—who also didn't want to be identified—told Reuters they had concerns about accepting licenses granted in countries where regulators had fewer staff, citing Malta—the country that has given out the most MiCA licenses thus far—as one example. If staff size and regulatory resources are of concern, then it makes sense that Malta and Luxembourg, the two smallest nations in the EU by both population size and land area, may be on the thinner end of the spectrum. These reported concerns also come at a time when the EU's top finance sector regulator, ESMA, is pushing for more power to become a Europe-wide version of the U.S. Securities and Exchange Commission (SEC). In September of last year, Mario Draghi, former European Central Bank (ECB) president, produced a report for the European Commission with his recommendations for the future of European competitiveness. In it, he proposed, as one of his key pillars, the creation of a U.S.-style 'European Security Exchange Commission,' with ESMA the logical body best suited to take on the role. 'ESMA should transition from a body that coordinates national regulators into the single common regulator for all EU security markets,' said Draghi. This idea has met with some support from leading national regulators within the bloc. In March, Marie-Anne Barbat-Layani, chair of the top French finance watchdog, told Bloomberg that it was 'ready to relinquish' some of its national powers and transfer them to ESMA. ESMA is yet to comment on the speed and rigor of the Malta and Luxembourg approvals, including the potential licenses for Gemini and Coinbase, but it has made clear that it will be monitoring how national regulators enforce the MiCA framework as part of its mandate to promote consistent supervision and enforcement practices for EU markets. Watch: Teranode is the digital backbone of Bitcoin title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
