Gemini Stock Crashes as Winklevoss-Led Crypto Exchange To Part Ways With Key Executives

Gemini stock dropped sharply on Tuesday after Gemini Space Station Inc. disclosed the departure of three senior executives, including its chief operating officer, chief financial officer, and chief legal officer. The announcement added fresh pressure on Gemini stock, already trading near record lows.

How Leadership Shakeup Pressures Gemini Stock

The company said in a filing that Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen, and Chief Legal Officer Tyler Meade would leave the company effective February 17. Beard also stepped down from the board of directors. The company said his departure was not a result of any disputes over operations or policies.

The shakeup also comes just over a week after Gemini said it would cut as much as 25% of its staff and wind down activity in the United Kingdom, European Union, and Australia. The downsizing represented a major change for one of the oldest crypto exchange operators, started by billionaire twins Cameron and Tyler Winklevoss.

Gemini said it would not replace the chief operating officer. Co-founder Cameron Winklevoss will assume some of the role’s duties, including responsibility for revenue-generating activities. The board named Danijela Stojanovic interim chief financial officer and hired an executive search firm to help fill the position permanently. The company’s associate general counsel and corporate secretary, Kate Freedman, will assume the role of interim general counsel.

In an X post, analyst James Seyffart called the leadership overhaul a “big shakeup.” The market reaction was swift. Gemini stock dropped more than 13%, trailing most peers in the crypto-linked equity space.

Bitcoin price has lost more than two-fifths of its value from its peak of $126,251 in early October, dragging down the broader cryptocurrency market. Its difficulty joining rallies in stocks and gold has held it back. In trimming costs, Gemini has not said that the crypto downturn played a role in its decision. Bitcoin’s fall has been weighing on companies across the space for months now.

Losses and Market Weakness Weigh on GEMI Stock

The Gemini stock price hit an all-time low of around $6.50 last week. The executive’s departure added to investor anxiety about the company’s financial direction and future profitability. The stock has come under relentless selling pressure amid broader weakness among crypto stocks.

Gemini also posted preliminary, unaudited 2025 results, indicating user and revenue growth but growing losses. Monthly transacting users rose about 17% from a year ago to approximately 600,000. Net revenue is expected to hit between $165 million and $175 million, up from $141 million in 2024.

Costs would likely rise sharply. Operating costs could exceed $530 million. For the year, the company expects adjusted EBITDA losses of roughly $260 million and net losses approaching $600 million.

In a post on X, analyst Diario Bitcoin made profitability a core issue for would-be investors in the company’s prospects. Increasing costs are dragging down financial results, even as the number of users and revenue grow.

Beyond its core exchange business, Gemini has expanded into prediction markets following receipt of a U.S. license. The company’s change in strategy also comes against the backdrop of larger volatility in digital asset markets.