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Gemini ousts COO, CFO and Chief Legal Officer after international exit and 25% staff cuts
- On February 17, Gemini Space Station Inc. disclosed in a form 8-K filing that COO Marshall Beard, CFO Dan Chen, and CLO Tyler Meade are leaving effective today.
- Amid a wider crypto downturn, Gemini announced it is shuttering its exchange operations in the U.K., EU, and Australia and plans to cut roughly 25% of its global workforce.
- The company said Danijela Stojanovic was appointed interim CFO and Kate Freedman interim general counsel, effective Tuesday, while Cameron Winklevoss will assume many of Beard's responsibilities.
- The market reacted sharply, with shares falling more than 10% in early Tuesday trading, underperforming most peers; shares were down over 13% following the news and at least one other senior APAC division staffer was also let go on Tuesday.
- Following its September IPO and amid a crypto downturn, the company expects an adjusted loss before tax of between $257 million and $267 million and projected 2025 net revenue between $165 million and $175 million compared to $141 million for the year ended December 31, 2024.
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Why Gemini Space Station Stock Got Rocked on Tuesday
Key PointsIt published preliminary 2025 results that didn't exceed analyst projections.The crypto exchange operator also divulged not one, not two, but three executive departures.10 stocks we like better than Gemini Space Station › Tuesday was an eventful day for Gemini Space Station (NASDAQ: GEMI). Unfortunately for investors, this led to a sell-off in the cryptocurrency exchange operator's stock. It declined by almost 13%, not least because an…
Gemini ousts COO, CFO and Chief Legal Officer after international exit and 25% staff cuts
Newly public crypto exchange Gemini Space Station Inc. said Marshall Beard, Dan Chen and Tyler Meade are departing effective immediately, days after the company announced plans to shut down U.K., EU and Australia operations and refocus on the U.S. and prediction markets.
Winklevosses’ Gemini Says Executives Leave Months After IPO
Gemini Space Station Inc., the crypto exchange founded by Cameron and Tyler Winklevoss that went public just before Bitcoin’s plunge, said three top executives left the company in a sweeping leadership shakeup that followed a broad round of layoffs earlier this month.
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