Gemini reportedly sells UK and European operations to KAST for under $10m
CRYPTO NEWSGeminicoinbrief/daily · 1 source
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What happened
Gemini Space Station's parent reportedly sold its UK and European operations to KAST, a Singapore-based stablecoin firm valued at $600m after an $80m raise this year, for under $10m, per an anonymous source cited by CoinDesk. The deal is unconfirmed: Gemini declined comment and KAST said only that it is actively pursuing M&A. GEMI stock is reportedly down about 93% since its 2025 IPO, to $2.72. An April 10-K disclosed a multi-million-dollar loan loop between the exchange and its founders, and the Winklevoss twins invested $100m via Winklevoss Capital Fund in May. Watch for official confirmation of the deal terms.
For experienced traders · Written by AI from 1 source · Wrong?
What to do
- Check whether you use Gemini's UK or European services, since the exchange announced its withdrawal from those markets last February.
- Watch for official confirmation of the sale from Gemini or KAST, as the reports so far rely on an anonymous source.
Written by AI from the sources, checked against them
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