Gemini reportedly sells its UK and European operations to KAST for under $10M

Gemini Space Station, the parent of the Winklevoss-founded crypto exchange, has reportedly sold its UK and European operations to stablecoin firm KAST. The price was below $10M, CoinDesk reported, citing one person familiar with the deal. Gemini declined to comment. KAST did not confirm the deal and said it is active in M&A as its revenue and footprint grow.

Gemini announced in February that it would leave the UK, Europe and Australia and cut 25% of its workforce.

KAST is based in Singapore and was co-founded by former Circle executive Raagulan Pathy and Daniel Bertoli. It raised $80M this year at a $600M valuation.

Gemini's shares are down almost 93% since its 2025 IPO.