Nifty Gateway co-founders Duncan and Griffin Cock Foster will leave Gemini four years after the exchange acquired the NFT-marketplace in 2019.
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Duncan Cock Foster wrote in a Twitter thread that the decision was made to start a new company, without elaborating on the matter. He acknowledged that the transition can "create uncertainty around the future." He added:
"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."
After the transition, Eddie Ma will become CTO at Nifty Gateway and Tara Harris will be the "leader for non-tech," Duncan added.
Founded in 2018, Nifty Gateway was acquired by Gemini in 2019 for an undisclosed price. The move comes after Gemini laid off another 10% as the exchange is facing a lawsuit from the US Securities and Exchange Commission (SEC) over its lending products.
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