Crypto exchange Gemini has tapped Dan Chen, who previously worked at Affirm, MetLife Investments, and Morgan Stanley, as its new Chief Financial Officer (CFO).
The new CFO’s appointment comes amid rumors of a potential Gemini initial public offering (IPO).
Gemini’s New CFO and Potential IPO
Dan Chen, Gemini’s new CFO, previously served as Vice President at Affirm, where he was responsible for capital markets and banking partnerships. Additionally, Chen has also worked at MetLife Investments and Morgan Stanley.
In a post on X (formerly Twitter), Chen described cryptocurrencies as the most dynamic sector in finance and emphasized that Gemini is at the forefront of this revolution.
“I’m looking forward to helping Gemini scale by driving financial strategy as the company enters its next phase of growth. Let’s build!” he wrote.
Chen’s appointment as CFO comes at a critical time, with rumors of an initial public offering (IPO) swirling. Sources familiar with the matter have indicated that Gemini is already discussing with Goldman Sachs and Citigroup to make an IPO a reality as early as this year.
The path to an IPO has been made clearer after the US Securities and Exchange Commission (SEC) dropped its investigation into Gemini in February. This, combined with resolving a dispute with the US Commodity Futures Trading Commission (CFTC) earlier in January, has potentially removed major obstacles for the platform.
In addition to these legal developments, Gemini’s co-founders, Cameron and Tyler Winklevoss, have worked to strengthen ties with political figures. They also participated in the first-ever Crypto Summit at the White House. This could provide further support as the company seeks favorable conditions for its IPO.
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