Gemini, one of the top cryptocurrency exchanges of the market, led by the famed Winklevoss brothers, is opening up a new office in Chicago. This development was intimated to the press and members of the public via an official announcement on the 27th of June, 2019.
As per the announcement, the new office will aid the firm’s existing offices (its headquarters in New York and another office in Portland, Oregon) and will basically serve as an engineering hub to complement the other two office locations. The announcement was made via a blog post published on Medium, by Tyler Winklevoss, one of the co-founders of the Gemini Exchange.
In the post, Tyler Winklevoss emphasized on the company’s objective of creating a “safe and reliable institutional-grade infrastructure” and detailed on how the new office will help them fulfill that goal. He also explained the rationale behind picking Chicago as the location for the same. He wrote:
“Chicago is the birthplace of commodities markets. Beginning in the late 19th century, farmers came to the Windy City to sell or lock in prices for their crop. Over the past 150 years, Chicago has grown into a financial powerhouse that is tightly linked to Wall Street and the global financial system at large. This legacy makes it a great home to build the future of money because it has an incredible pool of talented engineers who understand the unique skills and expertise necessary to build best-in class exchange infrastructure that meets the standards established by traditional financial markets.”
To make this initiative a success, Gemini has seemingly recruited engineers who were formerly employed with rival crypto exchange Coinbase, if reports from some of the leading crypto media outlets are to be believed. Apparently, when Coinbase brought down the shutters on its Chicago office in the month of April this year, these employees had lost their jobs. Now, they will reportedly work with Gemini instead.
This development is a significant one for the exchange and it goes without saying that we will be on the lookout for further developments on this end.