Duncan Cock Foster and Griffin Cock Foster, co-founders of nonfungible token auction platform Nifty Gateway, announced their resignations effective immediately. In supporting the decision.
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 conditions” in November 2020.
Nifty Gateway was founded in 2018 and acquired by Gemini in 2019. Despite tough business conditions at the parent company, Duncan said they’ve been preparing for this transition for months and that Nifty Gateway is in good hands. He wrote, Cameron Winklevoss and Tyler Winklevoss are visionaries who saw the potential in NFTs well before almost anyone else. Under their leadership, Nifty Gateway will continue to thrive. As part of the transition, Eddie Ma will take over as technical leader for Nifty Gateway, while Tara Harris will step in as leader for non-tech.
