News

Nifty Gateway Co-Founders Step Down Due To Gemini Issues

Key Points:

  • Duncan Cock Foster and Griffin Cock Foster, announced their resignations on January 25 in a Twitter thread. Their resignations took effect right away.
  • Genesis Global allegedly owes $900 million to its subscribers as part of the Gemini Earn program after Genesis Global stopped withdrawals in November 2020 due to “exceptional market conditions.”
Co-founders of the nonfungible token (NFT) auction platform Nifty Gateway, Duncan Cock Foster and Griffin Cock Foster, announced their resignations on January 25 in a Twitter thread. Their resignations took effect right away.

Griffin and I are founders at heart, and we want to create another firm,” Duncan said in defense of their decision.

“When @Gemini acquired NG in 2019, Griffin and I said if everything went amazing and we loved it, we would stay for 4 years before starting another company. We ended up staying the max amount of time we originally thought possible, which shows how great this experience was!”

The decision was made in the midst of a legal dispute between Genesis Global, a defunct cryptocurrency lender, and Gemini, the parent company of Nifty Gateway. Genesis Global allegedly owes $900 million to its subscribers as part of the Gemini Earn program after Genesis Global stopped withdrawals in November 2020 due to “exceptional market conditions.”

Gemini purchased Nifty Gateway in 2019 after it was founded in 2018. Despite challenging business conditions at the parent company, Duncan claimed that Nifty Gateway “is in good hands” and that they had “been preparing for this transition for months.” Cameron and Tyler Winklevoss were “visionaries who identified the potential in NFTs well before nearly anyone else,” the author stated.

Nifty Gateway will prosper going forward under their direction. Eddie Ma will replace Tara Harris as the “technical leader” for Nifty Gateway during the changeover, and Tara Harris will take over as the “leader” for non-tech.

“We know that transitions can create uncertainty around the future. To that end, in the coming weeks, we will publicly outline a roadmap and a plan for the future of Nifty. After we depart we will stay connected to the mission in an advisory role to ensure continuity.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

Coincu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

26 minutes ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

56 minutes ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

2 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

2 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

3 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

5 hours ago

This website uses cookies.