Crypto alternate Gemini has appointed Dan Chen as its new Chief Monetary Officer (CFO), amid hypothesis that the corporate is getting ready for a possible preliminary public providing (IPO).
Chen introduced his new position on Monday in a put up on X, calling crypto essentially the most dynamic sector in finance.
“Gemini is on the forefront of this revolution — making it easy and safe to have interaction on the digital asset frontier,” he wrote.
Earlier than becoming a member of Gemini, Chen spent over two years at fintech Affirm, the place he served as VP of capital markets and financial institution partnerships, serving to safe over $20b in funding entry. His expertise in monetary technique and capital markets suggests Gemini could also be positioning itself for a significant development part—doubtlessly by way of public itemizing.
Gemini Revives IPO Talks as Market Circumstances Enhance
The CFO appointment comes amid studies that Gemini has reopened discussions about an IPO, with Bloomberg reporting final month that the company is in early talks with potential advisors.
Gemini initially thought of going public in 2021, however the plan by no means materialized. Nonetheless, with crypto markets rebounding and regulatory pressures shifting, the timing could now be extra favorable for a public itemizing.
Winklevoss Brothers Again Trump, Blast Biden’s Crypto Insurance policies
Past its enterprise strikes, Gemini’s founders, Cameron and Tyler Winklevoss, have turn out to be more and more vocal in crypto-related politics. Final 12 months, both twins donated $1m each to Donald Trump’s election marketing campaign, with Cameron publicly endorsing Trump’s pro-Bitcoin, pro-crypto, and pro-business stance.
In the meantime, Tyler Winklevoss sharply criticized the Biden administration, accusing it of waging a “struggle towards crypto” by way of authorized and regulatory crackdowns. He claimed that a number of authorities companies have been weaponized to harass and litigate towards professional crypto corporations.
Taking their stance a step additional, Gemini lately introduced that it'll not rent graduates from the Massachusetts Institute of Know-how (MIT) except the college removes former SEC Chair Gary Gensler from his school place.
Gensler, recognized for his aggressive regulatory actions towards crypto companies, beforehand led the SEC’s lawsuit towards Gemini over its now-defunct Earn program. Nonetheless, final month, the agency dropped its case without any charges—a transfer that some see as a shift in regulatory attitudes.
Gemini Customers Focused in Newest Phishing Rip-off
Whereas Gemini focuses on development, it is usually coping with safety threats. Over the weekend, Gemini users were hit with a phishing scam, receiving emails that falsely claimed to be from the alternate. The messages urged customers to maneuver their crypto holdings to self-hosted wallets, citing a nonexistent courtroom ruling as justification.
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