The parent company of the Winklevoss-owned cryptocurrency exchange Gemini reportedly sold its UK and European operations to stablecoin firm KAST for less than $10 million. Singapore-based KAST, co-founded by former Circle executive Raagulan Pathy and fintech specialist Daniel Bertoli, raised $80 million this year at a $600 million valuation. Gemini announced in February that it would withdraw from the UK, Europe, and Australia as part of cost-cutting measures that also resulted in 25% of its workforce being fired. Since its 2025 IPO, Gemini’s stock price has fallen nearly 93%, to $2.72. A regulatory filing also revealed a multi-million-dollar loan between Gemini and founders Cameron and Tyler Winklevoss.
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