Dive Brief:
- Cryptocurrency exchange Gemini has appointed Tyler Skelton as its head of finance, Bloomberg reported Friday.
- The appointment comes roughly two weeks after the Securities and Exchange Commission charged both Gemini and its partner for the service, Genesis, with selling unregistered securities through a cryptocurrency lending program, Gemini Earn.
- Genesis filed for Chapter 11 bankruptcy this month after facing fallout related to the collapse of crypto exchange FTX, which led it to halt withdrawals from the Gemini Earn program. The lender listed Gemini among its top 50 creditors and owes the exchange approximately $765 million, according to bankruptcy filings.
Dive Insight:
Prior to joining Gemini, Skelton served as CFO for small-business payment service provider Till Payments for a year beginning in January 2022, according to his LinkedIn profile. He also held finance roles at crypto insurance marketplace Nayms and crypto financial services provider Bakkt, and is an alum of payments firm Fiserv where he served as director of e-commerce finance for three years.
Skelton is taking on Gemini’s financial helm after the exchange — founded in 2015 by Cameron and Tyler Winklevoss — has cut staff at least three times since June.
Gemini’s previous head of finance, Jared Shaw, left the company to take a CFO position with cryptocurrency gaming platform Animoca Brands, according to a September press release.
Gemini did not respond to requests for comment. Skelton’s hire was confirmed to Bloomberg by a person familiar with the matter.
