In a Twitter thread posted on Jan. 25, Duncan Cock Foster and Griffin Cock Foster, co-founders of nonfungible token (NFT) auction platform Nifty Gateway, announced their resignations effective immediately. In supporting the decision, Duncan said they were leaving because “Griffin and I are founders at heart, and we want to start another company.”
The move comes amid a legal battle between Nifty Gateway’s parent company, Gemini, and bankrupt cryptocurrency lender Genesis Global. Gemini alleges that the latter owes its users $900 million as part of its Gemini Earn program after Genesis Global halted withdrawals due to “unprecedented market conditions” in November 2020.
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