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Gemini stock plunges after it parts ways with COO, CFO and Chief Legal Officer months after IPO
Crypto exchange says Marshall Beard, Dan Chen and Tyler Meade are departing effective immediately; Cameron Winklevoss to take on COO duties as board names interim finance and legal chiefs.
The stock fell more than 10% in early Tuesday trading, underperforming most of its peers.
The departures come just days after Gemini announced it would shut down its crypto exchange operations in the U.K., European Union (EU) and Australia
The exchange said it plans to cut roughly 25% of its global workforce and refocus its strategy on the U.S. market and prediction markets, marking a sweeping retrenchment only months after the company went public.
Gemini said it does not plan to appoint a successor COO at this time. Instead, co-founder Cameron Winklevoss will assume many of Beard’s responsibilities, including revenue-generating duties, in addition to his existing role.siyam
The board appointed Danijela Stojanovic, Gemini’s chief accounting officer since May 2025, as interim CFO, and named Kate Freedman, currently associate general counsel and corporate secretary, as interim general counsel, effective Tuesday.
At least one other higher-level staff member attached to Gemini’s APAC division was let go on Tuesday as well, according to a person familiar with the matter.
Gemini did not immediately respond to a CoinDesk request for comment.
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The stock fell more than 10% in early Tuesday trading, underperforming most of its peers.
The departures come just days after Gemini announced it would shut down its crypto exchange operations in the U.K., European Union (EU) and Australia
The exchange said it plans to cut roughly 25% of its global workforce and refocus its strategy on the U.S. market and prediction markets, marking a sweeping retrenchment only months after the company went public.
Gemini said it does not plan to appoint a successor COO at this time. Instead, co-founder Cameron Winklevoss will assume many of Beard’s responsibilities, including revenue-generating duties, in addition to his existing role.siyam
The board appointed Danijela Stojanovic, Gemini’s chief accounting officer since May 2025, as interim CFO, and named Kate Freedman, currently associate general counsel and corporate secretary, as interim general counsel, effective Tuesday.
At least one other higher-level staff member attached to Gemini’s APAC division was let go on Tuesday as well, according to a person familiar with the matter.
Gemini did not immediately respond to a CoinDesk request for comment.
#Arb
#Vtho
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#rez
#Dog
BitMine adds $90 million in ETH — Tom Lee says crypto sentiment reminiscent of 2018 and 2022 bottoms
The Ethereum treasury firm continues its buying spree with its largest weekly ETH purchase in token terms this year.
The firm also raised its cash pile to $670 million, alongside its small bitcoin
BTC
$66,790.05
stash and equity stakes, including a $200 million position in Beast Industries. Total assets stand at $9.6 billion, while BitMine’s share of ETH’s total supply rose to 3.6
BitMine has now staked over 3 million ETH — about 69% of its holdings — that generate $176 million in annualized rewards, according to Chairman Tom Lee. The firm’s staking operations currently yield 2.89% annualized.
Lee said sentiment in crypto markets remains depressed, drawing comparisons to the lows of 2018 and 2022. But he argued the current environment differs in that there have been no major collapses of large players.
Investor sentiment and enthusiasm are rock bottom, reminding us of the forlornness and dejection seen at the November 2022 lows and depths of 2018 crypto winter," he said. "Rather, it seems like crypto has remained weak since the 'price shock' and massive deleveraging seen on October 10th."
Lee also highlighted developments from last week’s Consensus Hong Kong conference, where he cited tokenization, artificial intelligence (AI) integrations and proof-of-humanity infrastructure as long-term growth drivers for Ethereum.
The price of ETH is not reflective of the high utility of ETH and its role as the future of finance," Lee said. "Hence, we continue to buy ETH even as crypto moves through this 'mini-winter.'"
Read more: Tom Lee says stop timing the bottom and start buying the dip
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The firm also raised its cash pile to $670 million, alongside its small bitcoin
BTC
$66,790.05
stash and equity stakes, including a $200 million position in Beast Industries. Total assets stand at $9.6 billion, while BitMine’s share of ETH’s total supply rose to 3.6
BitMine has now staked over 3 million ETH — about 69% of its holdings — that generate $176 million in annualized rewards, according to Chairman Tom Lee. The firm’s staking operations currently yield 2.89% annualized.
Lee said sentiment in crypto markets remains depressed, drawing comparisons to the lows of 2018 and 2022. But he argued the current environment differs in that there have been no major collapses of large players.
Investor sentiment and enthusiasm are rock bottom, reminding us of the forlornness and dejection seen at the November 2022 lows and depths of 2018 crypto winter," he said. "Rather, it seems like crypto has remained weak since the 'price shock' and massive deleveraging seen on October 10th."
Lee also highlighted developments from last week’s Consensus Hong Kong conference, where he cited tokenization, artificial intelligence (AI) integrations and proof-of-humanity infrastructure as long-term growth drivers for Ethereum.
The price of ETH is not reflective of the high utility of ETH and its role as the future of finance," Lee said. "Hence, we continue to buy ETH even as crypto moves through this 'mini-winter.'"
Read more: Tom Lee says stop timing the bottom and start buying the dip
#Not
#grok
#Zalbot
#flt21
#Eth
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