Key Points:
- Gemini has announced that Dublin will serve as its European headquarters as the US crypto exchange seeks to grow its presence on the continent.
- The exchange said that it picked Ireland because of its favorable regulatory environment as well as Dublin’s technology and innovation talent pool.
- The US SEC accused Gemini of marketing unregistered securities as part of a crackdown after the FTX crisis.
According to a Silicon Republic report, crypto exchange Gemini announced that Dublin would become its European headquarters.
Gillian Lynch, Gemini’s head of Ireland and Europe, said Dublin was chosen because it was “a hub for innovation and technology, with a thriving start-up scene and deep talent pool.” The move is supported by IDA Ireland.
The company, founded by CEO Tyler Winklevoss and president Cameron Winklevoss, who famously sued Mark Zuckerberg over the idea for Facebook, holds a platform for buying, selling, and storing cryptocurrencies.
“We’re grateful for the support of the Irish government and the IDA as we embark on the next, exciting steps in our journey. We look forward to being a part of and adding to the vibrant tech community in Dublin,” the twins said in a joint statement.
Launched in Ireland and 11 other EU countries last year, the platform allows customers to buy, sell and hold crypto assets such as Bitcoin and Ether as well as digital non-fungible tokens and currently employs about 12 people in Dublin.
The news comes after the collapse of rival platform FTX last year. Gemini was charged with selling unregistered securities by the US Securities and Exchange Commission as part of a crackdown following the FTX debacle.
As Coincu reported, Cameron threatened to sue DCG CEO Barry Silbert and DCG over the repayment of a $900 million loan after Genesis filed for Chapter 11 bankruptcy. The SEC has accused both firms of selling unregistered securities through their Earn program. Gemini is preparing to file a claim seeking the return of over $1.1 billion in digital assets from Genesis for its over 200,000 Earn users.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
