Cameron Winklevoss and Tyler Winklevoss brothers are well known for co-founding HarvardConnection which was later renamed ConnectU. The Winklevoss Twins came to limelight when they received $65 million compensation, after they sued Facebook founder Mark Zuckerberg for stealing their social networking idea.
Gemini Trust Company, LLC is their foray into the world of cryptocurrencies exchange and trading. Gemini is the world’s first licensed exchange to offer trading and custody services for Ether and Zcash. Currently, it operates in the United States, Canada, the United Kingdom, South Korea, Hong Kong, and Singapore.
According to Gemini website:
We are a licensed digital asset exchange and custodian built for both individuals and institutions. We are a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). Gemini is a fiduciary and subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the NYSDFS and the New York Banking Law.”
Now, in an effort to expand their core team, they have announced that Robert Cornish will be joining Gemini, as the first ever Chief Technology Officer (CTO). The announcement was made on July 6, 2018 and Mr. Cornish is expected to assume his responsibility of leading “Gemini’s technology team and strategy”, later this month.
Robert Cornish’s past experience leading the New York Stock Exchange’s (NYSE) tech team as their Chief Information Officer (CIO) will definitely benefit Gemini to become a bigger player in the crypto world. While praising about CTO Cornish, CEO – Tyler Winklevoss stated:
“Rob is a tremendous addition to our team. He will ensure that Gemini continues to deliver the best platform experience to our customers as possible and set the standards of excellence for the cryptocurrency industry as a whole. Rob is globally recognized for his abilities in leading high-performing engineering teams, his expertise in exchange and matching-engine architecture, and running high-throughput platforms that are both secure and resilient”.
Robert Cornish’s addition to the Gemini team is at a time when the company is reaching new levels of success. Gemini became the first digital currency exchange to be licensed to trade Ether, after receiving approval from the New York State Dept. of Financial Services (NYSDFS), enabling it to offer trading and guardianship rights to interested parties. While Mr. Cornish has leadership of the company’s technological team, he is also responsible for the “deployment of Nasdaq’s SMARTS Market Surveillance technology” allowing Gemini to “determine the settlement price for the Bitcoin (USD) Futures Contracts that trade on CBOE Futures Exchange.”
Robert Cornish is not the first of Wall Street executives who have displayed their interest in blockchain technology and cryptocurrencies by openly entering this emerging field. 2018 has already seen previous Goldman Sachs’ Executive Director – Priyanka Lilaramani becoming part of HOLD – a Maltese cryptocurrency set up, as their new CEO.
Along with that, Dr. Rolf Werner who was Fujitsu’s Central Europe Head decided to change his career trajectory by entering the IOTA Foundation. Just last year, Coinbase – a US based cryptocurrency exchange – added another member to their board of directors: ex PayPal and Facebook executive David Marcus. Following these trends, it is safe to say that cryptocurrencies and blockchain technology are both gaining increased exposure day by day and as a result, also garnering greater interest among the industry leaders.
Robert Cornish, as NYSE CIO, is well known for his leadership style in driving transformative technology and organizational cultural change. His venture at Gemini will definitely lead to greater milestones for the company and greater revenue for the Winklevoss brothers.
The Winklevoss Twins are Internet Entrepreneurs well known for establishing Winkdex – a financial index for tracking Bitcoin prices. In April 2013, the two brothers invested roughly $11 million in Bitcoin, priced at around $120 a coin and amassed 92,000 Bitcoins in their wallets. Later they claimed to have accumulated around 1% of all the Bitcoins in existence. Along with that, they have also established the first ever Ether, ZCash digital currency exchange to be licensed: Gemini Trust Company, LLC. Gemini was founded in 2014 in New York and is regulated by the New York State Dept. of Financial Services.
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