Cryptocurrency Exchange Gemini Names Insider as Compliance Chief

Earlier than becoming a member of Gemini, Mr. Mariadason labored for greater than eight years at

Morgan Stanley,

together with as a money-laundering prevention officer at Morgan Stanley’s non-public financial institution, in keeping with his LinkedIn web page, which says he took over as Gemini’s chief compliance officer in August. He has additionally labored within the financial-crime unit at credit-card firm

American Express Co.

His predecessor as Gemini’s compliance chief was

Elena Hughes,

who took the put up in April 2021, in keeping with her LinkedIn profile. Ms. Hughes didn’t reply to an e mail looking for remark.

The transfer by Mr. Mariadason is the newest reshuffling of Gemini’s danger and compliance staff. Gemini’s director of enterprise operations and intelligence, who most not too long ago served as its deputy chief compliance officer, in addition to its head of danger, have also departed in recent months.

Gemini in June cut 10% of its staff, citing the consequences of the crypto market downturn. In a June weblog put up asserting the layoffs, Gemini’s founders, brothers

Cameron

and

Tyler Winklevoss,

mentioned the job cuts have been a response to a “contraction part” within the crypto market and a choice to focus solely on merchandise that have been completely crucial.

Gemini’s personnel strikes come because the crypto trade faces tumbling costs and increasing regulatory scrutiny. With rates of interest rising and fears a few recession rising, buyers have responded by promoting extra dangerous belongings, such as cryptocurrency.

Write to Mengqi Solar at mengqi.sun@wsj.com