Gemini may sell European business units as buyers seek approvals: CoinDesk

Potential buyers are considering buying parts of the Gemini space station, with interest focused on the crypto exchange's shuttered UK and European operations rather than full control, according to a CoinDesk report.

Gemini has spent years building a regulatory infrastructure in those markets, and for some buyers it may be more attractive than acquiring an entire Nasdaq-listed company.

The demand comes after Gemini announced in February that it would cut 25% of its workforce and shed jobs in the UK, EU, other European states and Australia, with the US and Singapore as its main hubs.

In the year In an 8-K filing filed Feb. 5, the company said the layoffs are part of a broader cost-cutting push intended to support profitability. Reuters reports that the layoffs could affect up to 200 workers.

Parts of the UK and EU may look attractive as they come with hard-won regulatory access. Gemini said it received a license from Malta's financial regulator MCA in August 2025 and a passport to offer services in the EU's single market. In the UK, FCA Gemini Payments UK is authorized to issue e-money and provide payment services, while Gemini Intergalactic UK appears on the regulator's cryptoasset register.

Still, any buyer does not automatically inherit those licenses. Under UK law, regulating an FCA-regulated or registered firm requires prior regulatory approval, and the FCA can take up to 60 working days to review a full notification.

In Europe, the MCA created a unified licensing system for cryptoasset service providers, but the regulatory change will attract regulatory oversight rather than a clean license transfer.

The backdrop is a sharp reversal in Gemini's public market history. According to Reuters, the company raised $425 million in a September 2025 IPO at $28 per share, and the stock opened at $37, before closing its debut at around $32. On April 9, 2026, Yahoo Finance data showed that GEMI closed at $4.87, the stock down more than 80% from its IPO price.

Gemini's operational relaunch has come with significant changes. In February, the company announced the departures of Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen and Chief Legal Officer Tyler Mead, all effective immediately.