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Stablecoin giant Circle and the Winklevoss twins' cryptocurrency exchange Gemini went public this year. Edward Best, co-head of the capital markets department at Willkie Farr & Gallagher, said, "In two weeks, it will be Thanksgiving, and given the current situation, we believe that IPOs will not resume until early December, with some activities appearing in early January." "Most companies still need to submit amendments to their financial data for the third quarter of 2025, which may delay their filing times or slow down the review process by the U.S. Securities and Exchange Commission (SEC)."