cameron winklevossThe co-founder of cryptocurrency exchange Gemini is no longer an acting director at the company’s European Union branch.

according to a report Per crypto news platform Altfi, citing the company’s Chamber filing, Cameron stepped down as a director of the company on Oct. 12.

Despite stepping away from active leadership in its European arm, the Winklevoss brothers will remain president and CEO of the global brand.

“We can confirm that this change has been brought to Companies House and brings local leadership to the board of directors to reflect the growth of Gemini’s business in the UK and Europe. cameron and Tyler Winklevoss continue as chairman and CEO of Gemini,” a Gemini spokesperson told AltFi via email.

Gemini is one of the oldest digital currency trading platforms that was founded in 2014 by Tyler and Cameron Winklevoss. The trading platform has grown over the years and is currently valued at around $7 billion based on its latest funding round of $400 million.

The shakeup of the exchange’s management is consistent with the trend observable in the broader cryptocurrency ecosystem, as many company executives have taken a bow. One such high-profile resignation in recent times is that of Jesse Powell, CEO of Kraken Exchange.

While the Powell’s resignation not a sign of distress from the trading platform, most of the exodus recorded lately can be attributed to internal distress facing the company. One of these is the resignation of alex mashinskythe founder of crypto lending platform Celsius Network, which filed for bankruptcy earlier this year.

Internal disputes over Gemini’s leadership have also seen the trading platform appoint Gillian Lynch as the new head of its European outlet after former boss Blair Halliday was kidnapped by rival trading platform Kraken.

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