In the tweet posted on January 25, Duncan Cock Foster and Griffin Cock Foser, the founders of the non-bank token (NFT) auction platform Nifty Gateway, announced that their resignation would take effect immediately. When supporting this determination, Duncan said that he would leave because "Griffin and I are the founders, and we want to create another enterprise."
"When @ Gemini recycled NG in 2019, Griffin told me that if everything was good and we liked it, we would stay for 4 years before we founded another enterprise. We finally stayed for the longest time that I first thought was possible, which shows that these experiences are so great!"
This move coincided with the dispute between Gemini, the head office of Nifty Gateway, and Genesis Global, the failed digital currency borrower. Gemini claimed that after Genesis Global stopped withdrawing cash in November 2020 due to "unprecedented market situation", Gemini owed its customers $900 million as part of Gemini Earn plan.
Nifty Gateway was founded in 2018 and recycled by Gemini in 2019. Although the operation of the parent company is difficult, Duncan said that it has "prepared for this transition several months in advance", and Nifty Gateway "has a very good grasp". As part of the transition, Eddie Ma will take over as the "technical manager" of Nifty Gateway, while Tara Harris will take over as the "manager" in non-technical fields.
"We all know that the transition may cause variability in the future. Therefore, in the near future, we will publish a map and plan outlining Nifty's future route. After leaving, we will maintain contact with the mission as a consultant to ensure continuity."
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