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Gemini’s shares drop following the departure of its COO, CFO, and Chief Legal Officer just months post-IPO.
Crypto exchange announces the immediate departure of Marshall Beard, Dan Chen, and Tyler Meade; Cameron Winklevoss to take over COO responsibilities as the board appoints interim leaders for finance and legal roles.
Gemini co-founders Cameron and Tyler Winklevoss at White House (Jesse Hamilton/CoinDesk)
What to know:
- Gemini Space Station Inc. is parting ways with its chief operating officer, chief financial officer, and chief legal officer, with all three exits effective immediately, as stated in a regulatory filing.
- This leadership change comes on the heels of Gemini’s recent announcement to cease its crypto exchange operations in the U.K., the European Union, and Australia, along with a reduction of around 25% of its global workforce, and a shift in focus towards the U.S. and prediction markets.
- Co-founder Cameron Winklevoss will take on many of the responsibilities previously held by the departing COO, while the company has appointed interim leaders for its finance and legal departments amid broader reductions that also include at least one senior staff member from the APAC region.
Gemini Space Station Inc. (GEMI) is parting ways with three high-ranking executives, including its chief operating officer (COO), chief financial officer (CFO), and chief legal officer (CLO), as revealed in a filing on Tuesday.
Marshall Beard, Dan Chen, and Tyler Meade are all leaving immediately, according to the filing. Beard has also resigned from Gemini’s board of directors. The company indicated that his departure was not due to any disagreements regarding its operations, policies, or practices.
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The stock experienced a decline of more than 10% during early trading on Tuesday, underperforming most of its competitors.
The exits come shortly after Gemini disclosed plans to terminate its crypto exchange operations in the U.K., EU, and Australia.
The exchange plans to reduce approximately 25% of its global staff and realign its strategy towards the U.S. market and prediction markets, representing a significant retrenchment just months after the company went public.
Gemini stated that it does not intend to appoint a new COO at this moment. Instead, co-founder Cameron Winklevoss will inherit many of Beard’s duties, including those related to revenue generation, along with his existing responsibilities.
The board has appointed Danijela Stojanovic, who has served as Gemini’s chief accounting officer since May 2025, as interim CFO, and has named Kate Freedman, the current associate general counsel and corporate secretary, as interim general counsel, effective Tuesday.
At least one other senior employee connected to Gemini’s APAC division was also let go on Tuesday, as per a source familiar with the situation.
Gemini did not respond immediately to a request for comment from CoinDesk.
