Gemini Stock Slides 13% After Executive Exodus and Mounting Losses

Gemini stock plunged more than 13% Tuesday after Gemini Space Station Inc. revealed the departure of three top executives, intensifying pressure on shares already hovering near record lows. The company confirmed that Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen, and Chief Legal Officer Tyler Meade stepped down effective February 17. Beard also resigned from the board, though Gemini stated the exits were not related to disagreements over company operations or policies.

The leadership shakeup follows a major restructuring announcement in which Gemini said it would cut up to 25% of its workforce and scale back operations in the United Kingdom, European Union, and Australia. The move marks a significant shift for the crypto exchange founded by Cameron and Tyler Winklevoss. Cameron Winklevoss will take over key revenue-related responsibilities previously handled by the COO. Meanwhile, Danijela Stojanovic has been appointed interim CFO as the company searches for a permanent replacement, and Kate Freedman will serve as interim general counsel.

Investor sentiment toward GEMI stock has worsened amid broader weakness in the cryptocurrency market. Bitcoin has fallen more than 40% from its October peak of $126,251, weighing heavily on crypto-related stocks. Although Gemini has not directly blamed the crypto downturn for its restructuring, declining digital asset prices have pressured companies across the sector.

Gemini recently reported preliminary, unaudited 2025 results showing mixed performance. Monthly transacting users grew 17% year over year to around 600,000, while net revenue is projected between $165 million and $175 million, up from $141 million in 2024. However, operating costs may exceed $530 million, leading to adjusted EBITDA losses of roughly $260 million and net losses nearing $600 million.

With rising expenses, executive turnover, and persistent crypto market volatility, Gemini stock remains under intense selling pressure as investors question the company’s path to profitability.