The Winklevoss-founded crypto exchange Gemini has appointed a new CFO with intentions to go public by 2026.
Dan Chen's Appointment
Dan Chen has been appointed as the CFO of crypto exchange Gemini. Previously, he served as a vice president in capital markets and bank partnerships at Affirm Inc. Chen announced his new role in a post on X: 'I’m thrilled to join Gemini as CFO and work alongside Cameron and Tyler to unlock financial freedom.'
Plans for Public Listing
Headquartered in New York, Gemini is backed by Cameron and Tyler Winklevoss. The company is working with Goldman Sachs and Citigroup on a potential public offering that could happen as soon as this year. Although no final decision has been made yet, the company remains on track for an IPO.
Current Situation of Gemini
Recently, Gemini settled regulatory issues, including a $5 million payment to resolve a lawsuit by the Commodity Futures Trading Commission. The exchange also agreed to return at least $1.1 billion to customers affected by the bankruptcy of Genesis Global Capital. According to the company, due to asset appreciation, some clients received over $2 billion in crypto.
The appointment of a new CFO and the potential IPO could significantly strengthen Gemini's position in the crypto market. A successful public offering could attract substantial investor interest and trigger a new wave of IPOs in the crypto sector.
