Nifty Gateway co-founders resign amid Gemini woes
Nifty Gateway was founded in 2018 and acquired by Gemini in 2019. 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 “Griffin and I are founders at heart, and we want to start another company.” “When @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!” The move comes amid a legal battle between Nifty Gateway’s 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 “unprecedented market conditio...