2 years ago
218 Two top executives from Gemini’s Asia-Pacific (APAC) have left the company, and they are looking towards launching their own crypto ventures. The two executives are Jeremy NG, the head of Gemini’s APAC and Eugene Ng, the head of business development.
The two are planning to launch their own crypto initiatives over the next few months; hence they will be progressing with their crypto venture.
Two former Gemini APAC executives resign
Eugene went to an interview with a Business Times publication, noting that the two will soon launch their own cryptocurrency businesses. However, he did not reveal additional details of the venture but noted that additional details would be shared by the end of the first quarter of 2022.
Eugene further noted that “something is cooking. Jeremy and I have been working on this since we left. In a couple of months, we will probably be able to disclose something.” He added that other parties were also involved.
Eugene did not give the reasons behind leaving Gemini. The two signed non-disclosure agreements (NDAs) with Gemini. Additionally, they have not updated their LinkedIn profiles regarding their next venture.
Jeremy was hired by Gemini in June 2021 as the managing director of the exchange’s new office in Singapore. Before this, he served as the CEO of Leonteq, which deals in insurance and other financial products.
On the other hand, Eugene joined Gemini in January 2021 and left late last year. Before joining Gemini, he worked with Deutsche Bank, Barclays Capital, among other financial institutions.
Gemini seeking to expand in Asia
The announcement by Eugene and Jeremy comes as Gemini pursues expansion plans across Asia. After launching its business in Singapore, Jeremy was appointed to lead the firm’s Singapore operations.
Gemini is currently waiting for the operating license applied for in Singapore to be approved. Gemini is among the 170 crypto businesses waiting for this license to be approved.
The Gemini office in Singapore office has grown tremendously since June 2021. Around 30 employees work at the office. The expansion comes as many other businesses seek to obtain the necessary licenses to expand into the Asian region.
