Public Keys: Crypto Opos Sizzle, Gensler Texts de Gensler

Public keys is a weekly summary of Decipher That tracks the key to cryptographic companies that are quoted in the stock market.

Ipo pop of Gemini

Crypto Exchange Gemini reached an assessment of $ 4.4 billion in its debut in Nasdaq on Friday. At the time of writing this article, the company’s actions, which trade under the symbol of Ticker Gemi, are around $ 34. That is a gain of 22.6% since the action began to quote.

Gemini was founded in 2014 and the Department of Financial Services of the State of the State of New York awarded a Bitlicense the following year. The company raised $ 425 million through its IPO, according to Decipher Calculations based on regulatory files. Reuters He was the first to report yesterday that the firm’s OPI was significantly signed.

But there has been dramatic elaboration among the founders of the company, Tyler and Cameron Winklevos, and the nominee to the president of the Commercial and Future Commission Commission, Brian Quintenz.

The CFTC nominee shared screenshots of a July text thread with Tyler in X. The messages show that Quintenz was contacted on a Gemini complaint filed with respect to the alleged misconduct in the regulator.

Gemini paid $ 5 million to resolve its CFTC lawsuit in January, only a few weeks before the trial began. But in June, the company’s lawyers filed a complaint claiming that the CFTC was wrong having gone after the exchange in the first place.

“I think these texts make it clear what they were after me and what I refused to promise,” he wrote. “I understand that after this exchange they contacted the president and asked that my confirmation stop for reasons other than what is reflected in these texts.”

There were some people in the thread by calling the foul at the time, especially since his current firm, Andreessen Horowitz, has a great participation in the direct competitor of Gemini, Coinbase.

An attractive figure

Gemini is the most recent, but not the only cryptographic company to make its great public debut this week.

The figure of the cryptographic lender began to quote at the Nasdaq under the Ticker Figr on Thursday, seeing that the shares jump 24%. The company entered public trade with an even greater than $ 5.3 billion.

The price of its action before the closing bell on Friday is around $ 33.46, approximately 33% above its $ 25 opponent price.

“Our opi showed what is possible when Blockchain meets capital markets: speed, transparency, efficiency,” the company said Friday in X. “Opi’s day was a celebration of our people, partners and the vision that takes us forward, and we are even more excited about what is the following.”

Figure CEO Michael Tannenbaum said Decipher That the company is showing Wall Street how blockchains can be used to create more efficient markets for real world assets, while helping investors better understand concepts such as tokenization.

Tokenization, that is, to take actives of the real world, as actions and create equivalents based on blockchain, lately it has received a lot of buzzing. According to a recent report in BloombergBlackrock is considering token your ETF. No, not only Buidl, his tokenized flagship background launched with Securitize in 2024. The scope of this movement would be much broader and would bring billions with him.

Even Nasdaq has expressed interest in the SEC by allowing tokenized actions to trade in their exchanges. The company proposed that the issuers might choose to have tokenized versions of their value trade.

What texts from Gensler?

Crypto Exchange Coinbase has affirmed that the SEC has made “irreparable damage” by destroying documents from his era of Gary Gensler.

“The SEC Gensler destroyed documents that had to preserve and produce,” wrote the legal director of Coinbase, Paul Grewal, on Thursday X, along with a link to the presentation of the court. “Now we have evidence of the Inspector General of the SEC.”

A report last week of the Inspector General of the SEC found that almost a year of the text messages of the then president Gary Gensler were permanently eliminated between October 2022 and September 2023.

Coinbase has been looking for internal SEC documents for a long time through the Law on Freedom of Information and demanded when the regulator denied its requests.

Other keys

Dat worked: The newly coined digital treasure Treasure Gamestop achieved a loss of Q2 in its profit report, but not as bad as it could have been. The company pointed out that its value of $ 500 million in Bitcoin increased by value to $ 528 million for the end of the quarter.

Ascent BTC land: Bitcoin Treasury Metaplanet Japanese wants to raise $ 1.45 billion to buy more BTC. In the announcement, the company reiterated its laser thesis pointing out “high levels of national debt, prolonged negative interest rates and a continuous depreciation of the YEN.”