Noah Perlman (COO) Leaves Gemini Exchange

A

s Gemini Trust Co. seeks to maneuver through the current volatility in digital asset markets, Noah Perlman has decided to depart from his position as Chief Operating Officer of the cryptocurrency firm founded by Tyler and Cameron Winklevoss, divulged a person familiar with the matter.

In 2019, Perlman arrived at Gemini as the Chief Compliance Officer. Before that, he was employed at Morgan Stanley. According to his LinkedIn profile, it appears he will retain this role until January 2023. Despite requests for comments from journalists and media outlets alike; both Perlman and officials from Gemini have declined to comment on the situation.

The Winklevoss twins founded Gemini in 2014, and the company has been experiencing a rocky patch due to Genesis' November hiatus on redemptions. This affected Earn, an investment product that allowed investors to generate up to 8% annual interest by lending their digital coins through Barry Silbert's Digital Currency Group-owned business--Genesis Global Capital.

Recently, Cameron Winklevoss publicly accused Barry Silbert of "bad faith stall tactics" and mixing his funds in a way that has left $900 million in customer assets stuck since the FTX exchange shut down. However, Silbert refutes these claims.

In an open letter addressed to Genesis and its owner, Cameron Winklevoss pleaded for the return of more than $900 million which is currently withheld from Gemini Earn's 340,000 users.

The Winklevosses gave Genesis until the 8th of January to resolve the matter. Last year, Genesis warned its clients that they would be forced into filing for bankruptcy if their fundraising attempts in order to close a gap left by FTX exposure were unsuccessful. In an update recently published, it was stated that there is confidence among them that a solution can still be found.

Jonathan

An editor at Coincrop

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Jonathan is a Coincrop staff writer based in the UK, covering the best rates for cryptocurrency earning and borrowing products. When not at work, he's likely sailing.