Potential buyers are considering acquiring parts of the Gemini space station, with their interest centered on the crypto exchange’s shuttered operations in the UK and Europe rather than a full buyout, according to a report from CoinDesk.
Gemini has spent years building regulatory infrastructure in these markets, and for some buyers, that may be more attractive than acquiring the entire Nasdaq-listed company.
The interest comes after Gemini announced in February that it would reduce about 25% of its workforce and end its operations in the United Kingdom, the European Union, other European jurisdictions and Australia, leaving the United States and Singapore as its main operating centers.
In an 8-K filed Feb. 5, the company said the workforce reductions were part of a broader cost-cutting campaign intended to support the company’s path to profitability. Reuters reported that the layoffs could affect up to 200 employees.
UK and EU units may seem attractive as they benefit from hard-won regulatory access. Gemini said in August 2025 it had received a MiCA license from Malta’s financial regulator, giving it a passport to offer services in the EU single market. In the UK, the FCA said Gemini Payments UK is authorized to issue electronic money and provide payment services, while Gemini Intergalactic UK appears on the regulator’s cryptoasset register.
However, not every buyer would automatically inherit these permissions. Under UK rules, acquiring control of an FCA-regulated or registered company requires prior regulatory approval, and the FCA can take up to 60 working days to assess full advice.
In Europe, MiCA has created a harmonized licensing regime for crypto-asset service providers, but a change of control would still attract regulatory review rather than amounting to a clean transfer of authorization.
The backdrop is a stark reversal of Gemini’s public market history. Reuters said the company priced its September 2025 IPO at $28 per share, raising $425 million, and that the stock opened at $37 before closing its debut at around $32. On April 9, 2026, Yahoo Finance data showed GEMI closing at $4.87, leaving the stock down more than 80% from its IPO price.
The reset of Gemini’s operations was also accompanied by turnover among senior management. In February, the company announced the departures of Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen and Chief Legal Officer Tyler Meade, all effective immediately.
