Crypto Exchange Gemini Sells U.K. And European Operations

Cryptocurrency exchange Gemini (NASDAQ: $GEMI) has sold its British and European operations. 

Gemini, run by twin brothers Cameron and Tyler Winklevoss, have reportedly sold its United Kingdom (U.K.) and European operations to stablecoin payments firm KAST. 

The sale price is reported to have been a little less than $10 million U.S. 

Gemini has not commented publicly on the sale of its U.K. and European trading operations. However, the company has signaled that it is focusing on its home market of the U.S. 

Earlier this year, Gemini announced its intention to pullback from international markets and restructure its business to reduce costs and pursue profitability. 

In February, the company announced plans to wind down some of its operations in the U.K. and Australia, and cut 25% of its global workforce.

Gemini said at that time that it was concentrating on its operations in the U.S. and Singapore.

Gemini’s business and stock have struggled since the company went public a little more than a year ago.  

Recently, Gemini received a $100 million U.S. capital injection from the Winklevoss twins, with the brothers buying Class A shares at $14 U.S. each and paying for the stock in Bitcoin (CRYPTO: $BTC).

The investment was made as Gemini expands beyond crypto trading and into new ventures such a prediction markets.

Privately held KAST provides accounts, cross-border transfers, and payment cards that allow consumers and businesses to hold and spend stablecoins. 

Gemini is scheduled to report its latest financial results after markets close on Nov. 12. 

GEMI stock has plunged 92% since its September 2025 initial public offering (IPO) to trade at $2.72 U.S. per share.