Gemini to Further Venture into Crypto Derivatives

UTC by Steve Muchoki · 2 min read
Gemini to Further Venture into Crypto Derivatives
Photo: Depositphotos

Gemini highlights that the ideal candidate should have experience with the US regulators including the SEC.

Gemini Trust Company LLC, a cryptocurrency exchange, and institutional-grade custodian, is seeking to venture into crypto derivatives by hiring a Director of Derivatives. According to the company, the best fit for the position will help the exchange build an in-class crypto derivatives platform from strategy through licensing, operations and maintenance.

“Gemini is looking for a Director of Derivatives to join our Exchange team. We are looking for a candidate with experience managing strategy & operations of exchange services in a constantly evolving business environment. 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,” the company explained.

The Director of Derivatives is expected to work closely with the company’s engineering team to ensure sustainable growth. Moreso now that the United States lawmakers are debating on laws to regulate the crypto industry. Particularly the Bitcoin ETF industry that was highly anticipated for institutional investors to get exposed to the crypto market.

Gemini highlights that the ideal candidate should have experience with United States regulators including the SEC. “Demonstrated experience and knowledge from working in the SEC and/or CFTC regulated space and/or working with international regulatory agencies is a plus,” the firm noted.

The company is also seeking for a director exchange to help the firm grow its crypto-related businesses. Mind you, the level of competition in the crypto industry has significantly grown over the past few years as digital assets become globally recognized.

Gemini and the Crypto Industry

The company is regulated by the New York State Department of Financial Services (NYDFS). Founded back in 2014 by Cameron and Tyler Winklevoss, Gemini has grown to one of the most respected crypto exchanges with a notable daily volume.

According to market analytics provided by CoinGecko, Gemini’s spot market recorded a daily volume of approximately $350 million. The leading spot exchange Binance on the other hand recorded a daily volume of $35 billion in the past 24 hours.

The derivative market on the other hand is dominated by Binance futures that had an open interest of $15.6 billion and a 24-hour volume of $73 billion.

Other companies in the derivatives market include FTX, ByBit, OKEx, KuCoin, Bitfinex among others. As of today, the total perpetual 24-hour volume stands at approximately $171 billion. The futures 24-hour total volume stands at $13.41 billion.

Cryptocurrency news, News
Steve Muchoki
Author Steve Muchoki

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