Gemini to open Miami office after judge stays SEC case
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has signed a lease for an office in Miami's Wynwood Art District, expanding its presence from Europe and New York to Florida. The move is expected by May, coinciding with a federal judge's 60-day stay on the SEC's lawsuit against Gemini Global Capital regarding unregistered securities sold through its Gemini Earn program. The SEC's enforcement action began in January 2023. Cameron Winklevoss indicated that the SEC had closed an investigation into a separate issue involving Gemini. The firm also agreed to a $5 million penalty from the CFTC for misleading statements related to its 2017 Bitcoin futures bid. Gemini has filed confidentially for an IPO, potentially as early as 2021. Miami's favorable regulatory environment and lack of state income tax attract several crypto firms, including Ripple Labs and MARA Holdings.
