The co-founder of Nifty Gateway plans to step down from the role amid potential legal battle concerns facing the platform’s parent company, Gemini.
Nifty Gateway, an NFT marketplace founded by Duncan Cock Foster and Griffin Cock Foster, was sold to the Gemini exchange in 2019.
The co-founders have been working with Gemini’s Cameron and Tyler Winklevoss for the past four years to develop the NFT Marketplace.
January 25th twitter thread, Duncan has announced that he is stepping down from his role at Nifty Gateway.
“I knew when I sold Nifty Gateway that I wanted to start another company one day, but I still very much regret that the time has come,” Duncan added. I was.
In the meantime, Duncan and Griffin have named Eddie Marr as technical lead for Nifty Gateway, and Tara Harris will lead the non-tech role.
The Nifty Gateway co-founder said he would reveal the platform’s future roadmap before finally leaving the company.
empire troubles for gemini
Duncan and Griffin’s move to exit Nifty Gateway comes at a time when Gemini is facing a legal battle with Genesis Global.
Gemini co-founder Cameron Winklevoss claims Genesis Trading owes about $900 million to more than 340,000 Gemini Earn users. However, Genesis’ bankruptcy filing revealed that Gemini owes him $765.9 million.
Cameron has threatened lawsuits against Genesis, Digital Currency Group and their CEO Barry Silbert for allegedly conspiring to defraud Gemini Earn users.
Gemini and Genesis are currently facing a legal battle with the US Securities and Exchange Commission (SEC) for selling unregistered securities.