Gemini stock drops as three executives exit

Gemini’s stock fell up to 15% after three top executives left, major layoffs, and the company’s withdrawal from several international markets.

Gemini Space Station Inc., the parent company of the Gemini cryptocurrency exchange, has announced the immediate departure of three key executives: Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen, and Chief Legal Officer Tyler Meade. Beard has also resigned from the board, with the company clarifying that his exit was not due to any disagreement. Co-founder Cameron Winklevoss will assume many of Beard’s responsibilities, while Danijela Stojanovic steps in as interim CFO and Kate Freedman as interim general counsel. The company does not plan to appoint a new COO at this time. These leadership changes come after Gemini announced a 25% reduction in its global workforce and its exit from the U.K., EU, and Australian markets, shifting focus to the U.S. and prediction markets. Following these announcements, Gemini’s stock (GEMI) dropped by 10–15%, now trading at around $6.50, down nearly 77% from its IPO price. The company projects a net loss of $587–602 million for 2025 but reported 600,000 monthly transacting users as of December 2025, a 17% year-over-year increase. This restructuring is part of the "Gemini 2.0 transformation" amid a broader crypto market downturn.