Former senior executives at Winklevoss-owned Gemini have left to start their own cryptocurrency venture in Singapore.
Gemini’s APAC head Jeremy Ng and head of business development Eugene Ng have left to start their own crypto venture, the latter told «Business Times» without elaborating.
«Something is cooking. [Jeremy Ng] and I have been working on this since we left. In a couple of months, we will probably be able to disclose something,» he said in the report, adding that «many parties» were involved and that more could be disclosed at the end of the first quarter next year.
Jeremy Ng joined Gemini in June 2020 after his last role as Leonteq’s Asia chief executive. Previously, he also worked at Goldman Sachs, Deutsche Bank, and Morgan Stanley.
Eugene Ng, who left Gemini two months ago, joined in January this year after previously working at Barclays Capital, Barclays Investment Bank, Citi Singapore and Deutsche Bank.
Headquartered in New York, crypto exchange and custodian Gemini was founded in 2014 by renowned American investors Tyler and Cameron Winklevoss.
Following its most recent funding round led by hedge fund Morgan Creek Digital, the firm was valued at over $7 billion.
Singapore was named as Gemini’s APAC hub and houses more than 50 employees.