Potential buyers are circling Winklevoss-backed crypto exchange Gemini
Interested parties are considering buying select parts of the business, particularly its shuttered European operations, to secure regulatory licenses, rather than pursuing a full takeover.
What to know:
- Potential buyers are exploring acquiring Gemini’s shuttered European and U.K. operations to secure regulatory licenses, rather than pursuing a full takeover of the exchange.
- The move follows Gemini’s 25% workforce cut, exit from multiple international markets, and leadership shake-up, including the departure of three top executives.
- Shares have plunged to around $4.36 from a $28 IPO price, reflecting a sharp loss of investor confidence amid broader crypto market weakness and company-specific challenges.
Some would-be acquirers are interested in buying the company’s now-shuttered operations in Europe and the U.K. to obtain regulatory licenses in these jurisdictions and are not interested in a full takeover of the Nasdaq-listed company, the person said, who spoke on condition of anonymity as the matter is private.
A company spokesperson declined to comment.
Gemini extends beyond a trading venue, offering institutional custody, staking and yield products, and payments infrastructure enabling fiat–crypto on- and off-ramps. It has also built brokerage and clearing capabilities, positioning itself as a full-service platform rather than just an exchange. The firm also provides a crypto rewards credit card, allowing users to earn digital assets on everyday spending.
