PANews reported on June 7 that according to The block, the cryptocurrency exchange Gemini has "secretly submitted a draft registration statement" to the US SEC, which is related to the proposed Class A common stock IPO. The statement said: "The number of Class A common stocks to be issued and the offering price range have not yet been determined. The initial public offering (IPO) is expected to take place after the US Securities and Exchange Commission completes the review process, and the specific timing depends on market and other conditions." Previously, Circle submitted an IPO application in April and began trading this week. Cryptocurrency exchange Kraken is also reportedly considering applying for an IPO.