🇪🇺 Gemini sells its UK and European arms to stablecoin firm KAST
Gemini, the Nasdaq-listed exchange founded by Cameron and Tyler Winklevoss, has sold its UK and European operations to Singapore-based stablecoin payments company KAST for less than $10 million, according to a person familiar with the matter cited by CoinDesk. Gemini declined to comment, while KAST said it is "actively in the market for M&A."
The sale follows Gemini's decision in February to wind down its UK, EU and Australian businesses and cut about 25% of its global workforce, keeping its US and Singapore units. KAST, founded by former Circle executive Raagulan Pathy, raised $80 million in a Series A round in March.
⭐ Crypto dealmaking is shifting toward small, license-driven acquisitions: Q3 crypto M&A totaled $2.2B across 67 deals, down 83% by value from the prior quarter, per Architect Partners.
#Gemini #Stablecoins #CryptoMA #Europe
Gemini, the Nasdaq-listed exchange founded by Cameron and Tyler Winklevoss, has sold its UK and European operations to Singapore-based stablecoin payments company KAST for less than $10 million, according to a person familiar with the matter cited by CoinDesk. Gemini declined to comment, while KAST said it is "actively in the market for M&A."
The sale follows Gemini's decision in February to wind down its UK, EU and Australian businesses and cut about 25% of its global workforce, keeping its US and Singapore units. KAST, founded by former Circle executive Raagulan Pathy, raised $80 million in a Series A round in March.
⭐ Crypto dealmaking is shifting toward small, license-driven acquisitions: Q3 crypto M&A totaled $2.2B across 67 deals, down 83% by value from the prior quarter, per Architect Partners.
#Gemini #Stablecoins #CryptoMA #Europe
