In a Twitter thread posted on Jan. 25, Duncan Cock Foster and Griffin Cock Foster, co-founders of nonfungible token (NFT) auction platform Nifty Gateway, announced their resignations effective immediately. In supporting the decision, Duncan said they were leaving because \u201cGriffin and I are founders at heart, and we want to start another company.\u201d<\/p>\n
\u201cWhen @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!\u201d<\/p><\/blockquote>\n
The move comes amid a legal battle between Nifty Gateway\u2019s parent company, Gemini, and bankrupt cryptocurrency lender Genesis Global. Gemini alleges that the latter owes its users $900 million as part of its Gemini Earn program after Genesis Global halted withdrawals due to \u201cunprecedented market conditions\u201d in November 2020.<\/p>\n
Nifty Gateway was founded in 2018 and acquired by Gemini in 2019. Despite tough business conditions at the parent company, Duncan said they\u2019ve been \u201cpreparing for this transition for months\u201d and that Nifty Gateway \u201cis in good hands.\u201d He wrote, \u201cCameron [Winklevoss] and Tyler Winklevoss are visionaries who saw the potential in NFTs well before almost anyone else. Under their leadership, Nifty Gateway will continue to thrive.\u201d As part of the transition, Eddie Ma will take over as \u201ctechnical leader\u201d for Nifty Gateway, while Tara Harris will step in as \u201cleader\u201d for non-tech.<\/p>\n
\u201cWe 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.\u201d<\/p><\/blockquote>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"In a Twitter thread posted on Jan.<\/p>\n","protected":false},"author":3,"featured_media":170104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
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