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According to the platform’s representative, the board of directors will include local leadership

Cameron Winklevoss resigns as director of Gemini Europe

17.10.2022 - 11:40

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2 min

What’s new? On October 12, Cameron Winklevoss stepped down as director of Gemini Europe, the UK-incorporated arm of crypto exchange Gemini. According to the platform’s representative, the board of directors will include local leadership. The changes are designed to reflect Gemini’s growth in the UK and EU countries. Cameron and Tyler Winklevoss will continue to serve as president and CEO of Gemini, AltFi reports.

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What happened before? The day before, the exchange fully launched its crypto asset exchange and custody services in Ireland. The Dublin office was opened in 2021.

This summer, the exchange faced several lawsuits. In early June, the CTFC accused the company of providing false statements by its employees about a futures contract tied to the price of bitcoin on the platform. Less than a week later, IRA Financial Trust sued Gemini for allegedly failing to provide proper security measures to protect its clients’ assets.

In June, the company laid off about 10% of its employees, citing unfavorable market conditions and macroeconomic factors. In August, Gemini launched Polygon (MATIC) Staking. The feature is available to customers in the US (excluding New York), Hong Kong, and Singapore.

What is known about Gemini? It is a centralized crypto exchange and trust company regulated by the New York State Department of Financial Services (NYDFS). The platform was founded in 2014 by Cameron and Tyler Winklevoss. The exchange hosts 106 cryptocurrencies and has 131 trading pairs available, with a daily trading volume of $23,89 million, according to CoinGecko.

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