Gemini CTO Departure Reflects Crypto Industry Struggles: Report

Key Points:

• Pravjit Tiwana, the global CTO of Gemini Trust Co., is leaving the firm amidst ongoing staffing challenges in the crypto industry.
• Gemini is facing regulatory scrutiny, including allegations by the US Securities and Exchange Commission regarding its partnership with Genesis.

Gemini CTO departure occurs amidst ongoing staffing challenges. Tiwana, also CEO for Gemini APAC, worked to revamp the company’s culture. Gemini faces regulatory scrutiny and a legal battle with Genesis and Digital Currency Group.

Pravjit Tiwana, the global chief technology officer of Gemini Trust Co., is leaving the firm founded by Tyler and Cameron Winklevoss. Tiwana, who is also the chief executive officer for Gemini APAC, the company’s business in Asia, is departing this month.

This news comes amidst Gemini’s battle with crypto lender Genesis and its parent company, Digital Currency Group, which has involved public disputes between DCG’s founder Barry Silbert and the Winklevoss twins.

Gemini CTO Departure Amidst Controversies and Disputes

Before joining Gemini in January 2022, Tiwana spent over six years as a general manager at Amazon Web Services. During his tenure at Gemini, Tiwana aimed to transform the company’s culture to resemble Amazon’s, resulting in some employees leaving. His responsibilities included overseeing product, engineering, and design, as well as establishing the company’s operations in India.

Gemini is currently facing regulatory scrutiny, with the US Securities and Exchange Commission alleging that Gemini’s partnership with Genesis, known as the Earn program, involved an unregistered offer and sale of securities.

Tyler Winklevoss has dismissed the lawsuit as a “manufactured parking ticket.” Additionally, Gemini and DCG were recently sued by the New York Attorney General for allegedly defrauding customers of $1.1 billion. DCG has stated its intention to challenge the allegations, while Gemini expressed disagreement with the decision to sue.

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