Gemini, Crypto Exchange at Winklevoss Twins, is preparing to open a new office in the Miami area as it navigates the final stages of its legal dispute with the Securities and Exchange Commission (SEC).
According to a March 31 update from real estate company Sterling Bay Properties, Gemini has signed a lease at Miami’s Winwood Art District, a growing hub of high-tech and crypto companies, Bloomberg reported.
The expansion illustrates a strategic move by Gemini to expand the US presence beyond its current offices in New York and Europe.
Gemini is planning to open its Miami office as early as May, Bloomberg said
Bloomberg reports that the exchange could start working from a new location as early as May.
The opening of the office is because the SEC enforcement action against Gemini appears to be approaching a resolution.
A federal judge recently ordered a 60-day suspension in the case to allow the parties to explore potential settlements.
The lawsuit, first filed in January 2023, accuses Gemini of providing and selling unregistered securities through the now-retired Gemini Airst program.
The SEC concludes the abuse of Gemini without charging
In another development, Cameron Winklevoss said in February that the SEC had concluded a survey that was not related to the acquisition program.
Earlier this year, Gemini agreed to pay a $5 million fine to the Commodity Futures Trading Commission (CFTC) for alleged misrepresentation during its 2017 effort to launch Bitcoin futures.
Gemini reportedly filed confidential documents for the initial public offering (IPO) in early 2024, potentially revived plans that were first considered in 2021.
Thanks to Florida’s business-friendly policies and the lack of state income taxes, appeals to Miami crypto companies continue to grow.
Gemini’s new neighbors include Ripple Labs and Crypto Mining Firm Mara Holdings, which will strengthen the city’s position as a growing crypto hub.
The post-Gemini Eyes Miami expansion when approaching the SEC case first appeared on Cryptonews.
