Gemini eyeing launch of derivatives, hiring for new director

Exchanges • November 2, 2021, 10:03AM EDT

Gemini — the cryptocurrency exchange run by the Winklevoss twins — is eyeing the derivatives market.

The firm, which offers cryptocurrency services for both institutional and retail users, is currently hiring for a director of derivatives to "build a best in class derivatives platform," according to a job posting.

"We are looking for a candidate with experience managing strategy & operations of exchange services in a constantly evolving business environment," the job posting added. "The ideal candidate should have the ability to cultivate internal relationships to drive cross departmental collaboration and execution of our derivative strategy and go to market."

Gemini isn't the only firm looking to enter the derivatives market. In September, Coinbase filed an application with the National Futures Association to nab futures commission merchant status. Last month, FTX.US finalized its acquisition of LedgerX to offer derivatives to its clients.

A spokeswoman for Gemini declined to comment.

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Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].