Market
Gemini’s APAC Chief Saad Ahmed Talks Global Expansion
Gemini, the US-based cryptocurrency exchange founded by Cameron and Tyler Winklevoss, is expanding globally, with a focus on the Asia-Pacific (APAC) region. Leading this effort is Saad Ahmed, Head of APAC, now based in Singapore.
Ahmed, who joined Gemini in November 2023, brings experience from Uber and Grab. In this interview, he discusses crypto investor trends, regulatory challenges, and Gemini’s strategy for Asia. He also shares insights on how global events, like the US elections, may impact the crypto industry and outlines Gemini’s international expansion plans.
How do you think crypto adoption is growing?
As stated in our report published recently, crypto investors are very resilient. Despite price action in 2022 and 2023, most countries showed a marginal fall in crypto ownership, or it relatively stayed the same. Crypto owners are hodlers who continue to hodl, showing a long-term belief that this asset class has a place in a balanced portfolio.
We see stability in hodling, and people who left in 2021 or 2022 are saying they’re going to come back. 7 out of 10 in most markets said they would be allocating to crypto in the next 12 to 18 months. This paints a positive picture of resiliency and that the asset class is here to stay.
People are looking at catalysts like macro factors, US elections, and Fed rate cuts. Crypto investors are resilient and many are likely to come back in the next 12 to 18 months.
What would you say about the lack of regulatory clarity as a barrier to industry growth?
Regulatory clarity is about consistency across different jurisdictions. In the crypto industry, there are differences in how regulators are trying to regulate this asset class. Innovation usually leads to regulation. There’s a need for consistent regulation that applies across jurisdictions, making it easier for global entities to operate.
Singapore has regulatory clarity, with a focus on customer protection, encouraging dialogue between industry, customers, and regulators. They have a clear framework of rules to comply with. Despite this, some respondents still said they’d like to see more regulatory clarity, which is intriguing.
What do you expect from the US election, and how would that affect your business?
7 out of 10 people said the candidate’s stance on digital assets is an important issue in their decision-making. It’s not the only issue they care about, but it is a partisan issue being discussed in national discourse. This is the first time in a US election that this has happened.
Taken in context with everything else happening in the industry, like Bitcoin ETFs giving legitimacy to the asset class, this topic being discussed as part of campaign strategy for both parties is a good thing for the industry. It helps drive forward the dialogue around this industry and its importance. More people are realizing how it fits as part of their portfolio.
Gemini delisted the controversial Terra Luna Classic (LUNC) in September. What was the reason behind this decision?
We go through a process of auditing every asset we list and delist. We have a robust infrastructure and processes for what goes into an asset being on the platform. There’s due diligence on the founders, what the project stands for, token distribution, and what the project does.
The process involves both the compliance and legal teams. Once a project is listed, it is recorded in the system, with an infrastructure cost tied to maintaining the listing.
Various factors are evaluated to determine whether a token should remain listed or be delisted. This is done regularly, taking a holistic approach to better manage the infrastructure. New projects are added, while those no longer driving demand are removed, as many tokens experience a hype cycle of about six months before interest declines.
Do you agree that fees are comparatively higher in Gemini than in other exchanges?
There are broadly three things customers care about liquidity on the platform, product, and fees. Most people have a preference for which they value most. You could have lower fees but wider spreads, or higher fees and tighter spreads.
These are choices exchanges make when building their framework. Our understanding is that our fees are quite competitive. We need to add more liquidity.
We’re working on areas that can drive better liquidity and depth on our platform. Our fees are generally competitive, and we’re working on improving liquidity.
What kind of business scale does Gemini have in APAC?
The US is our largest market, but we’ve been present in APAC for four years. We’ve always had an office in Singapore and a team here. We built for Singapore in 2020, being one of the first exchanges with an SGD onramp. Today, we have about 40 employees in Singapore, our APAC HQ.
Over the last year, we’ve built out a strong leadership team with new heads of compliance, general counsel, strategy, institutional sales, and expansion and growth. We are eager for growth, investing in the market, and continuing to build localized experiences, onboarding flows, and payment rails.
We’re thinking of a feature set that appeals to customers in Asia and building from an Asia-focused perspective. We’re now driving expansion from Singapore to other parts of Asia.
As a global exchange, what do you care the most about?
As a global exchange, we care about building for the customers in the region. It’s how we build the best experience and give them the products and services they really want. We can’t build a global product and expect everyone to use it. We need to localize our product and offering to make it relevant.
That’s why we have a team in the APAC region. We want to drive adoption through localized products. In 2024, we’ve seen the legitimacy of this asset class with ETFs and big traditional finance names joining the industry. We’re playing a part in driving the adoption of this technology.
The legitimacy means more people will find a place for this asset class in their portfolio. We’re building products to help make that transition easier for as many people as possible.
Disclaimer
In compliance with the Trust Project guidelines, this opinion article presents the author’s perspective and may not necessarily reflect the views of BeInCrypto. BeInCrypto remains committed to transparent reporting and upholding the highest standards of journalism. Readers are advised to verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Bitcoin price started a fresh increase above the $104,000 zone. BTC is consolidating above $105,000 and might aim for a new all-time high.
- Bitcoin started a decent increase above the $102,500 resistance zone.
- The price is trading above $104,500 and the 100 hourly Simple moving average.
- There was a break above a connecting bearish trend line with resistance at $104,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase if it stays above the $103,500 support zone.
Bitcoin Price Regains Traction
Bitcoin price started a decent upward move above the $102,500 zone. BTC was able to climb above the $103,500 and $104,000 levels.
The bulls even pushed the price above the $105,000 level. Besides, there was a break above a connecting bearish trend line with resistance at $104,000 on the hourly chart of the BTC/USD pair. The pair surpassed the 50% Fib retracement level of the downward move from the $109,112 swing high to the $100,114 low.
Bitcoin price is now trading above $104,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $107,000 level. It is close to the 76.4% Fib retracement level of the downward move from the $109,112 swing high to the $100,114 low.
The first key resistance is near the $107,500 level. A clear move above the $107,500 resistance might send the price higher. The next key resistance could be $109,000.
A close above the $109,000 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance level and a new all-time high. Any more gains might send the price toward the $112,500 level.
Downside Correction In BTC?
If Bitcoin fails to rise above the $107,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $104,500 level. The first major support is near the $103,500 level.
The next support is now near the $102,800 zone. Any more losses might send the price toward the $100,500 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $104,500, followed by $103,500.
Major Resistance Levels – $107,000 and $108,500.
AI tokens surged on Wednesday after President Donald Trump unveiled a new joint venture to invest up to $500 billion in artificial intelligence infrastructure.
The partnership involves major players such as OpenAI, Oracle, and SoftBank and will form a new entity called Stargate.
Market Focuses on AI Coins as Trump’s Stargate Initiative Gains Traction
The Stargate Project will invest $500 billion over the next four years, building new AI infrastructure in the US. The venture will focus on developing crucial data centers and the electricity generation required to power the AI sector.
The announcement has already had a noticeable impact on the broader market, particularly in AI-related cryptocurrencies. Following the news, the market capitalization of AI tokens surged by 9%, reaching $45.83 billion at press time, according to CoinGecko.
In fact, the market cap of AI agent tokens alone rose by 13% to hit $14.9 billion.
AI agent tokens, such as Virtuals Protocol, AIXBT, and AI16Z, saw impressive gains. Virtuals Protocol rose by over 13% in the past 24 hours, while AI16Z experienced a remarkable 36% increase. AIXBT token rose by 27% over the same period.
The surge in AI tokens reflects a broader shift in market interest as investors move capital towards more “sentient” tokens.
“Capital is rotating back from static memes to sentient coins,” AI researcher S4mmy commented on Twitter.
The analyst added that Fartcoin and AIXBT are sustaining their “mindshare dominance,” but face declining market caps after a heated run. Commenting on Virtuals Protocol, he said it continues to solidify its position as a backbone of the Agentic infrastructure.
Moreover, analyst CyrilXBT said he believes “AI will create generational wealth in 2025.”
“People said Bitcoin was a joke. People said AI agents are a gimmick. Guess what else they’ll say? ‘Why didn’t I listen when generational wealth was staring me in the face?,” CyrilXBT commented.
The shift towards AI is particularly interesting, given the trend of investments a few days back. Capital was flowing into Donald Trump-related tokens, such as TRUMP and MELANIA, which have seen significant volatility.
However, BeInCrypto reported that smart money traders are now focusing on AI tokens after the hype around TRUMP faded. According to data from Nansen, a substantial amount of VIRTUAL, FARTCOIN, and AIXBT tokens are held by smart money.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price is struggling below the $3,500 resistance while Bitcoin gains. ETH is consolidating above $3,150 and might aim for an upside break.
- Ethereum failed to gain pace for a close above $3,400 and $3,450.
- The price is trading above $3,300 and the 100-hourly Simple Moving Average.
- There is a key contracting triangle forming with resistance at $3,355 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start another increase if it clears the $3,400 resistance level.
Ethereum Price Aims Key Upside Break
Ethereum price started a decent upward move from the $3,200 level but upsides were limited compared to Bitcoin. ETH cleared the $3,250 resistance to move into a short-term bullish zone.
The bulls were able to push the price above the $3,300 resistance zone. Besides, there was a clear move above the 50% Fib retracement level of the downward move from the $3,445 swing high to the $3,203 low. However, the bears are still active below $3,400.
Ethereum price is now trading above $3,300 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level or the 61.8% Fib retracement level of the downward move from the $3,445 swing high to the $3,203 low.
There is also a key contracting triangle forming with resistance at $3,355 on the hourly chart of ETH/USD. The first major resistance is near the $3,400 level. The main resistance is now forming near $3,445.
A clear move above the $3,445 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,720 in the near term.
Another Decline In ETH?
If Ethereum fails to clear the $3,400 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250.
A clear move below the $3,250 support might push the price toward the $3,200 support. Any more losses might send the price toward the $3,120 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,200
Major Resistance Level – $3,400
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