Potential buyers are evaluating the acquisition of parts of the Gemini space station, with interest focused on the cryptocurrency exchange’s closed UK and European operations rather than a full acquisition, according to CoinDesk. a report.
Gemini has spent years building the regulatory infrastructure in those 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 cut about 25% of its workforce and scale back operations in the UK, EU, other European jurisdictions and Australia, leaving the US and Singapore as its main operating centres.
In an 8-K filing filed on February 5, the company said the reduction was part of a broader cost-cutting campaign aimed at supporting the path to profitability. Reuters reported that the layoffs could affect up to 200 employees.
UK and EU modules may have seemed attractive because they came with hard-won regulatory access. Gemini said in August 2025 that it had obtained a MiCA license from Malta’s financial regulator, giving it a passport to offer services across the EU single market. In the United Kingdom, the Financial Conduct Authority said Gemini Payments UK is authorized to issue electronic money and provide payment services, while Gemini Intergalactic UK appears on the regulator’s crypto-assets register.
However, no purchaser will automatically inherit these permissions. Under UK rules, gaining control of a company registered or regulated by the Financial Conduct Authority (FCA) requires prior regulatory approval, and the FCA can take up to 60 business days to assess a full notice.
In Europe, MiCA has created a harmonized licensing regime for crypto asset service providers, but the change of control will still be subject to regulatory scrutiny rather than amounting to a clean transfer of licence.
The backdrop is a sharp reversal in Gemini’s overall market story. Reuters He said The company priced its September 2025 IPO at $28 per share, raising $425 million, and the stock opened at $37 before closing its debut at about $32. By April 9, 2026, Yahoo Finance Data GEMI showed a close of $4.87, sending the stock down more than 80% from its IPO price.
The Gemini run reset was also accompanied by significant turnover. In February, the company revealed the resignations of Chief Operating Officer Marshall Baird, Chief Financial Officer Dan Chen, and Chief Legal Officer Tyler Meade, all effective immediately.
