Brazil blockchain goes postal, Gemini, Kraken IPO plans and more

Crypto exchange Gemini to file for initial public offering

Gemini is reportedly mulling an initial public offering this year, with Goldman Sachs and Citigroup involved in the process.

The exchange, founded by billionaire twins Cameron and Tyler Winklevoss, has not made a final decision about the details of the listing, according to a March 7 Bloomberg report, which cited people familiar with the matter.

Gemini did not immediately respond to Cointelegraphs request for comment.

This comes as the United States Securities and Exchange Commission closed its investigation into Gemini on Feb. 26, adding to a growing list of firms that have escaped the regulator’s scrutiny for now. 

In 2021, Coinbase became the first crypto exchange to go public in the US, listing shares of its stock on the Nasdaq.

Kraken joining the initial public offering club

Crypto exchange Kraken is also reportedly planning to go public, with a possible IPO slated for early next year, according to a March 7 Bloomberg report, also citing people familiar with the matter.

Bloomberg’s sources claim Kraken is currently considering launching its IPO in the first quarter of 2026. However, the details are not yet set in stone and could change.

Kraken did not immediately respond to Cointelegraphs request for comment.

Crypto exchange-traded fund issuer Bitwise predicted that at least five crypto unicorns would go public in 2025, including stablecoin issuer Circle and crypto exchange Kraken.

The SEC agreed to drop its lawsuit against Kraken on March 3. The regulator sued Kraken in November 2023, claiming the crypto exchange illegally operated as a securities exchange without first registering.

It also argued that Payward Inc and Payward Ventures, which operate as Kraken, have violated securities laws since 2018. Kraken denied all allegations.

El Salvador closes then reopens vet hospital funded through Bitcoin profits

A veterinary hospital in El Salvador funded through the country’s Bitcoin (BTC) profits was closed and reopened by Bitcoin-friendly President Nayib Bukele.

Chivo Pets, which was first announced in October 2021 and then opened in February 2022, was closed by Bukele because of widespread social media complaints about waiting times, treatment received, and the perception it was a vet hospital for only rich people, Bukele said in a March 8 statement to Facebook.

However, only a day later, Bukele backflipped, saying in a March 9 statement he was reopening the hospital after he received tens of thousands of positive “messages, comments, videos, photos, touching stories, and endless posts” about the hospital.

Bukele said that after discovering the negative comments about Chivo Pets did not reflect the reality of the project, he is reopening the hospital and increasing its budget.

“It’s clear to me, that social media is not the best thermometer to measure a project,” he added.

Related: Only 4% of the world’s population holds Bitcoin in 2025: Report

The country also recently bought another six Bitcoin for its growing stash. In a March 10 post to X, El Salvador’s Bitcoin office said its holdings had now increased to 6,111 Bitcoin after the new purchases, worth roughly $500 million at current prices. 

Brazil postal service mulls blockchain and AI  

Brazil’s state-owned postal service could be planning to power some of its services using blockchain technology and artificial intelligence.

Empresa Brasileira de Correios e Telégrafos announced in a March 7 notice it’s launching a pre-selection process for companies and specialists in blockchain and AI to present options to integrate the tech into its business, operational and internal supply management processes.

“The objective is to digitally transform the infrastructure and internal processes, improving the quality of the services offered and strengthening Correios’ position as a modern and technologically advanced institution,” Correios said in its notice. 

The tender, open from March 10 until April 11, asks interested companies to pitch solutions that have “high levels of security, governance and transparency.”

Other News 

White House crypto and AI czar David Sacks has rejected taxing cryptocurrency transactions to fill the US strategic Bitcoin and crypto reserve.

Meanwhile, former FTX CEO Sam “SBF” Bankman-Fried has reportedly been sent to solitary confinement for participating in an interview with political commentator Tucker Carlson that was not approved by prison authorities.

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