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Hires

Nikhilesh De
Crypto Trends

Gemini Hires Goldmans (GS), Citi (C), Morgan Stanley (MS) and Cantor as Lead Bookrunners For its IPO

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Crypto exchange Gemini filed an updated registration statement for its initial public offering effort, sharing a few more details in its push to become a publicly traded firm.

Goldman Sachs (GS), Citigroup (C), Morgan Stanley (MS) and Cantor acting as lead bookrunners on the IPO, Gemini said in a press release Friday.

Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, Needham & Company and Rosenblatt are also acting as bookrunners, the company said. Academy Securities and AmeriVet Securities are acting as co-managers.

The S-1 published on Friday follows a confidential filing submitted to the U.S. Securities and Exchange Commission back in June, and confirms “Gemini Space Station,” co-founded by Cameron and Tyler Winklevoss, intends to sell an undisclosed number of Class A shares.

Gemini’s filing indicated that it had generated total revenue of $142.2 million in 2024, up from $98.1 million the prior year. For the six months ending on June 30, 2025, the total revenue was $68.6 million, down from $74.3 million in the first six months of 2024.

Its net loss in 2024 stood at $158.6 million, compared to $319.7 million in 2023. That figure stood at $282.5 million for the first six months of 2025.

Its earnings before interest, taxes, depreciation and amortization for 2024 stood at a loss of $13.2 million, and a loss of $113.5 million for the first half of 2025.

Like other crypto firms, Gemini pointed to standard risks in the risk portion of the filing, including the general nature of blockchain networks and how banks and regulators view the industry.

“Key factors influencing the further development of blockchain networks and digital assets include the global adoption of digital assets and blockchain technology; regulatory and quasi-government restrictions on access to and operation of blockchain networks; and the maintenance of open source protocols that support blockchain networks,” the filing said.

Gemini is only the latest crypto company to try and go public this year, following Circle (CRCL), eToro (ETOR) and CoinDesk parent company Bullish (BLSH). BitGo has filed for paperwork to go public as well.

Gemini plans to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol GEMI.

Read more: Billionaire Winklevoss Twins-Backed Exchange Gemini Files With SEC For Planned IPO



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Pump.fun strengthens legal team with fresh hires to fight Burwick lawsuit
Crypto Trends

Pump.fun strengthens legal team with fresh hires to fight Burwick lawsuit

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The legal battle lawsuit against the memecoin launchpad Pump.fun is heating up, and the firm is gearing up to fight.

According to recent reports, Pump.fun’s parent company, Baton Corporation, has hired several high-profile attorneys to bolster its defense in its ongoing legal battles. The new hires include crypto litigation experts from the international law firm Brown Rudnick, including a former SEC investigator, Daniel L. Sachs.

The move aims to strengthen the firm’s defense team as it battles a series of allegations from Burwick Law, a New York-based firm that launched its legal campaign against the platform earlier this year.

**LEGAL ACTION ALERT: PUMPDOTFUN**

Burwick Law is pursuing legal action on behalf of investors in pumpdotfun memecoins. If you lost money on any pumpdotfun memecoins, you may be entitled to compensation.

Read more below.

— Burwick Law (@BurwickLaw) January 15, 2025

Burwick first served Pump.fun with a class action lawsuit in January, accusing the platform of various forms of misconduct. The firm alleged that the platform’s offerings violate U.S. securities laws, and claimed that it artificially inflates token prices for personal gain, thereby causing significant losses for investors.

A second filing followed shortly after, expanding the case to include the platform’s co-founders, Baton Corporation, and other key figures behind the project. Burwick Law’s CEO also accused Pump.fun of attempting to intimidate and derail the legal process, after several tokens allegedly tied to his family appeared on the platform in a fraudulent fundraising scheme.

The recent suspension of the official X accounts of Pump.fun and its co-founder Alon Cohen reignited Burwick Law’s campaign. The firm posted shortly after the takedown, leveraging speculation that the move may have been linked to the nature of the platform’s services to renew calls for more affected investors to join the class action lawsuit, which now includes over 500 participants.

However, Pump.fun isn’t the only project under Burwick’s legal spotlight. The firm is also leading lawsuits against other similar platforms, including BULLX, DexScreener, GMGN, and more.





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Critical Role's Darrington Press Hires Two Legendary Dungeons & Dragons Game Designers
Game Updates

Critical Role’s Darrington Press Hires Two Legendary Dungeons & Dragons Game Designers

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Today, Darrington Press, Critical Role’s tabletop role-playing game publisher, announced it has hired Jeremy Crawford and Chris Perkins, two of the lead designers for Dungeons and Dragons who recently departed the company. Perkins and Crawford will now serve as Darrington Press’ Creative Director and Game Director, respectively, according to an announcement on the company’s website.

This is a massive shakeup for the TTRPG world. Critical Role, known for its livestreamed games of Dungeons & Dragons played by high-profile voice actors, launched Darrington Press in 2020. While the company’s first projects were Critical Role adjacent, this year it released Daggerheart, a standalone role-playing game designed to compete with Dungeons & Dragons and other similar games. The cast is currently in the midst of a mini-arc using the game system, and fans have speculated the company might intend to move away from D&D entirely one day.

Daggerheart, the tabletop role-playing game from Critical Role, is a system that uses dice and cards to tell stories in a fantasy setting.

By bringing on Crawford and Perkins, Darrington Press’s pedigree increases significantly. The two have worked at Wizards of the Coast for many years (Crawford for 18, Perkins for 28), and are considered two of the primary architects behind Dungeons and Dragons’ extremely popular fifth edition and its 2024 overhaul of that ruleset. The designers were public spokespeople for the brand as well, appearing in videos to explain new books or playtests and even clarifying rules on social media. Shortly after the new books were released, however, Chris Perkins and Jeremy Crawford each announced they had decided to leave the company.

Their jump to Darrington is an unexpected move, to say the least, but it seems Wizards of the Coast was aware of the transition, making a point to congratulate the move on Bluesky. The pair also did an interview with The Los Angeles Times explaining their decision process and generally praising the Critical Role team.

The two will be “developing novel game concepts as well as expanding the games [Darrington has] released so far,” according to the announcement. This likely involves additions to Daggerheart, which launched a few weeks ago. For more Daggerheart and its inspirations, you can read our interview with its lead game designer, Spenser Starke. 



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Wheel of Time studio Iwot Games appoints 3 more senior hires
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Wheel of Time studio Iwot Games appoints 3 more senior hires

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Wheel of Time Games (Iwot), the studio behind an upcoming open-world RPG based on The Wheel of Time universe by Robert Jordan, has appointed three new senior staff: Lori Hyrup, John Lindemuth, and Steve Gray.

All three new appointees will report to studio head Craig Alexander, with Lori Hyrup as studio design director, John Lindemuth as studio art director, and Steve Gray as studio technology director (thanks, GamesBeat).

Hyrup brings 20 years of experience from Warner Bros. Discovery, Deck Nine, EA, and Kabam, whilst Lindemuth’s 30 years of experience includes the role of director of art at Turbine. He has previously worked on Dungeons & Dragons Online, Lord of the Rings Online, and Harmonix.

Gray similarly brings 30+ years of experience, and has held senior roles at Tencent and EA.

“In building a game worthy of the Wheel of Time legacy, it was critical to assemble a world-class leadership team,” Alexander said. “Lori, John, and Steve bring unparalleled experience, creative instincts, and a deep love of storytelling.

“With them on board, we’re positioned to deliver an unforgettable, immersive experience for fans around the world.”

Earlier this month, Iwot Games hired Stéphane D’Astous as its director of studio operations. The goal is to grow the studio up to 200-300 employees in Montreal over the coming years.



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NFT Gaming

Crypto Hedge Fund Temple Capital Hires TradFi Execs as Institutional Demand Grows

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Crypto hedge fund Temple Capital has expanded its senior management team with hires from Hilbert Capital, BlueCrest and Brevan Howard, the company said in a press release Wednesday.

Guy Griffiths has joined as chief financial officer, the company said. He was previously employed by macro hedge fund Brevan Howard in London for 19 years.

Richard Murray, former CEO of crypto asset manager Hilbert Capital, has joined Temple Capital as a partner of the firm. He was also a former executive at Brevan.

Cristian-Teodor Tudor, formerly lead quant developer at BlueCrest, has joined the investment firm as a quant researcher.

Temple Capital currently manages $120 million in assets and is backed by Bain Capital and Pantera Capital.



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