News

Winklevoss twins’ crypto exchange Gemini is said to weigh IPO

(Bloomberg) -- Gemini, the cryptocurrency firm backed by the billionaire Winklevoss twins, is considering an initial public offering as soon as this year, according to people familiar with the matter.Most Read from BloombergCitadel to Leave Namesake Chicago Tower as Employees RelocateNYC Sees Pedestrian Traffic Increase in Congestion-Pricing ZoneTransportation Memos Favor Places With Higher Birth and Marriage RatesState Farm Seeks Emergency California Rate Hike After FiresHow London’s Taxi Drive

Brazil's Galipolo sees surge in crypto use, says 90% of flow tied to stablecoins

Stablecoins are pegged to real-world assets, such as the U.S. dollar, and therefore fluctuate much less than other crypto assets like bitcoin. Speaking at a Bank for International Settlements event in Mexico City, Galipolo said policymakers see this trend as primarily driven by the use of cryptocurrencies as a means of payment, posing challenges for oversight and regulation. He also argued that Brazil's Drex is not fundamentally a central bank digital currency but rather an infrastructure aimed at improving credit with collateralized assets, in a context where local financing costs are high due to the limited use of guarantees.