New York City-based cryptocurrency company Gemini is rapidly growing its presence in Bellevue.
Gemini, founded in 2014 by tech billionaires Cameron and Tyler Winklevoss, on Wednesday announced plans to grow its Bellevue team from 28 to more than 125 people.
Cameron Winklevoss told the Business Journal that Gemini wants to be thoughtful about how quickly it grows on the Eastside, but the company could surpass 125 employees locally over the next year.
"Eighteen months ago, I'm not sure we had a single person in Seattle. When we were hiring a number of senior leaders over the past 18 months, especially in the technology part of our business, Seattle kept coming up," said Winklevoss, who also serves as president while his twin brother, Tyler, serves as CEO. "There's a number of great companies where talent in Seattle has grown up."
He said Gemini is primarily looking to fill tech roles in Bellevue, including for product management and engineering. Winklevoss added that the company does have an office in Bellevue already and, although there are no immediate plans to grow that space right now, Gemini could need additional space in the next year.
Gemini currently has more than 600 employees. In addition to Seattle and New York City, the company has employees in London, Singapore, Dublin and the Bay Area.
Gemini lets consumers research and buy cryptocurrencies. The company also offers a credit card that provides rewards on cryptocurrencies like bitcoin. Gemini raised $400 million in November 2021, pushing the company's value to $7.1 billion.
Cryptocurrencies have faced a difficult year, with popular cryptos like bitcoin and ether down more than 70% over the past year. And in a shocking industry development on Nov. 11, exchange FTX announced that it filed for bankruptcy protection and Sam Bankman-Fried resigned as CEO. Despite the the charged environment, Winklevoss said Gemini isn't deterred.
"We are in a crypto winter right now, and the markets have been volatile. Crypto is not alone. It's been that way really across the board," he said. "I think it's really important to continue to build and execute on your vision. Price is just one indicator. It can be ahead or behind. Right now it feels like it's behind what is actually going on and being built and a lot of the good stuff that is going on. These are the times where great companies in our space will build."
