Crypto exchange Gemini has appointed Dan Chen as its new Chief Financial Officer (CFO), amid speculation that the company is preparing for a potential initial public offering (IPO).
Chen announced his new role on Monday in a post on X, calling crypto the most dynamic sector in finance.
“Gemini is at the forefront of this revolution — making it simple and secure to engage on the digital asset frontier,” he wrote.
Before joining Gemini, Chen spent over two years at fintech Affirm, where he served as VP of capital markets and bank partnerships, helping secure over $20b in funding access. His experience in financial strategy and capital markets suggests Gemini may be positioning itself for a major growth phase—potentially through public listing.
Gemini Revives IPO Talks as Market Conditions Improve
The CFO appointment comes amid reports that Gemini has reopened discussions about an IPO, with Bloomberg reporting last month that the company is in early talks with potential advisors.
Gemini initially considered going public in 2021, but the plan never materialized. However, with crypto markets rebounding and regulatory pressures shifting, the timing may now be more favorable for a public listing.
Winklevoss Brothers Back Trump, Blast Biden’s Crypto Policies
Beyond its business moves, Gemini’s founders, Cameron and Tyler Winklevoss, have become increasingly vocal in crypto-related politics. Last year, both twins donated $1m each to Donald Trump’s election campaign, with Cameron publicly endorsing Trump’s pro-Bitcoin, pro-crypto, and pro-business stance.
Meanwhile, Tyler Winklevoss sharply criticized the Biden administration, accusing it of waging a “war against crypto” through legal and regulatory crackdowns. He claimed that multiple government agencies have been weaponized to harass and litigate against legitimate crypto companies.
Taking their stance a step further, Gemini recently announced that it will no longer hire graduates from the Massachusetts Institute of Technology (MIT) unless the university removes former SEC Chair Gary Gensler from his faculty position.
Gensler, known for his aggressive regulatory actions against crypto firms, previously led the SEC’s lawsuit against Gemini over its now-defunct Earn program. However, last month, the agency dropped its case without any charges—a move that some see as a shift in regulatory attitudes.
Gemini Users Targeted in Latest Phishing Scam
While Gemini focuses on growth, it is also dealing with security threats. Over the weekend, Gemini users were hit with a phishing scam, receiving emails that falsely claimed to be from the exchange. The messages urged users to move their crypto holdings to self-hosted wallets, citing a nonexistent court ruling as justification.
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