Gemini's former APAC execs to start new Singapore-based crypto venture

GEMINI'S ex-Asia Pacific head Jeremy Ng and former head of business development for the region Eugene Ng have left the US cryptocurrency bourse and will soon launch their own crypto venture.

Eugene Ng, who left Gemini 2 months ago after less than a year in his role there, told The Business Times that the duo will be ready to share more details on the venture at the end of Q1 2022.

"Something is cooking. Jeremy and I have been working on this since we left. In a couple of months, we will probably be able to disclose something," he said, adding that there are "many parties" involved.

Jeremy Ng joined Gemini in June 2020 as a managing director. He was previously Asia chief executive at Leonteq, which specialises in structured financial products, and had also worked at global investment banks Goldman Sachs, Deutsche Bank, and Morgan Stanley. He did not respond to BT's queries on his departure from Gemini.

Prior to joining Gemini in January this year, Eugene Ng had served stints at Barclays Capital, Barclays Investment Bank, Citi Singapore and Deutsche Bank, among other financial institutions. He declined to share the circumstances on his departure, noting that both he and Jeremy Ng had signed non-disclosure agreements. Both men have not updated their designations on LinkedIn.

Gemini, founded by Tyler and Cameron Winklevoss, was recently at over US$7 billion after a recent funding round led by hedge fund Morgan Creek Digital. It considers Singapore its Asia-Pacific hub and has more than 50 staff here.

According to LinkedIn, Gemini is still advertising for half a dozen roles in Singapore, including for a head of Asia-Pacific and a senior principal in business development.