Pravjit Tiwana, the global Chief Technology Officer (CTO) and Asia head of Gemini Trust Co., is reportedly leaving the company. Gemini Trust Co., co-founded by twin entrepreneurs Tyler and Cameron Winklevoss, has been facing challenges in securing and retaining talent due to ongoing regulatory hurdles in the US. In a recent interview with CryptoNews, Tiwana discussed Gemini’s expansion plans into India.
Pravjit Tiwana’s Departure
According to Bloomberg, Tiwana, who is also the Chief Executive Officer (CEO) for Gemini APAC, the company’s venture in the Asian market, is expected to conclude his tenure by the end of this month, as per anonymous sources. Prior to joining Gemini in January 2022, Tiwana had worked as a General Manager at Amazon Web Services for over six years. During his tenure at Gemini, Tiwana was responsible for overseeing product development, engineering, and design. He played a crucial role in expanding the company’s operations in India. Noah Perlman, the former Chief Operating Officer at Gemini, had also left the company to join Binance earlier this year.
Regulatory Challenges and Disputes
Gemini has been involved in a long-standing dispute with crypto lender Genesis and its parent company, Digital Currency Group (DCG). This conflict has even resulted in public confrontations between DCG’s founder, Barry Silbert, and the Winklevoss twins. Additionally, the crypto exchange is under significant scrutiny from regulators. The U.S. Securities and Exchange Commission (SEC) has accused the Earn program, a collaboration between Genesis and Gemini, of being an unregistered offer and sale of securities. Tyler Winklevoss has compared the lawsuit to a “manufactured parking ticket.” Moreover, the New York Attorney General recently filed a lawsuit against Gemini and DCG, alleging that they defrauded customers of approximately $1.1 billion. While DCG plans to challenge the state’s allegations, the Winklevoss twins have publicly expressed their disagreement with suing the exchange.
