Gemini Space Station, the parent company of cryptocurrency exchange Gemini, said that three of its C-suite executives would be leaving effective immediately, with co-founder Cameron Winklevoss assuming additional responsibilities.
In a Tuesday filing with the US Securities and Exchange Commission, Gemini said it would be “parting ways” with chief operating officer Marshall Beard, chief financial officer Dan Chen and chief legal officer Tyler Meade.
The company said it did not plan to replace Beard, who also resigned from Gemini’s board. Winklevoss is expected to take on revenue-generating responsibilities. Danijela Stojanovic, previously Gemini’s chief accounting officer, has been appointed as interim CFO.
The leadership shakeup came about five months after Gemini went public on the Nasdaq, initially raising $425 million in its September debut. At the time of publication, shares of Gemini Space Station were trading at $6.54, having fallen more than 13% against broader gains across US equities markets.
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“We expect to enter into a separation agreement with each of these individuals with potential eligibility to provide additional transition services for a limited period of time in exchange for continued base salary and employee benefits for the duration of such period,” said Gemini.
In January, the SEC dismissed a civil case filed against Gemini Trust Company in 2023 over unregistered securities offerings. The dismissal marked the latest action by the financial regulator, which has softened its approach to enforcement against crypto companies under President Donald Trump.
Gemini exits UK, EU, and Australia
The shakeup in the company’s leadership came just a few weeks after Gemini said it would focus many of its resources on building its business in the US and developing its prediction market platform. Gemini said at the time that it would cut its staff by 25% as it exited the United Kingdom, European Union and Australia markets.
In Tuesday’s filing, the company gave a preview of its year-end 2025 results, including that net revenue is expected to be $165 million to $175 million as compared with $141 million for the year ended Dec. 31, 2024. The improvement is primarily attributable to higher services revenue, driven by growth in credit card revenue.
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