For many crypto users, the past two years have been defined by uncertainty, platform failures, and tighter regulation. Now, one of the industry’s most recognizable names is signaling that it is not immune to those pressures. Gemini has confirmed that three top executives will leave the company as part of a broader restructuring that includes regional exits and significant cost reductions.
The changes were disclosed in a recent Form 8-K filing, which outlined the departures of Chief Operating Officer Marshall Beard, Chief Financial Officer Dan Chen, and Chief Legal Officer Tyler Meade. The company said the exits are not tied to disagreements over operations or policy, but they come at a time when Gemini is narrowing its geographic footprint and trimming expenses after a period of heavy losses.
Jemi Motesho
Leadership Changes at the Top
The restructuring represents one of the most significant management shifts at the exchange since it was founded by Cameron and Tyler Winklevoss. Gemini will not replace the chief operating officer role. Instead, co-founder Cameron Winklevoss will take on many of the revenue and operational responsibilities. Chief Accounting Officer Danijela Stojanovic has been appointed interim CFO, and Kate Freedman, currently associate general counsel and corporate secretary, will serve as interim general counsel.
The shakeup drew attention across crypto markets. ETF analyst James Seyffart described it as a “big shakeup” in a post on X, reflecting how closely investors are watching signs of stress or consolidation in the sector.
*GEMINI SPACE STATION TO PART WAYS WITH CFO, COO AND CLO
— James Seyffart (@JSeyff) February 17, 2026
Woah. Big shakeup over at @Gemini
Pulling Back to the Core
The executive exits are happening alongside a strategic retreat from certain overseas markets. Gemini said it will cease operations in the United Kingdom, the European Union, and Australia under its Gemini Space Station entity. The company acknowledged that while it operates in more than 60 countries, demand in several regions has not been strong enough to justify the associated compliance and operational costs.
Management indicated that expanding across multiple jurisdictions created complexity and elevated expenses. By concentrating primarily on the United States, which it identifies as its strongest and most stable market, Gemini hopes to simplify operations and stabilize its finances.
This geographic pullback follows a workforce reduction of roughly 25%, another sign of tightening discipline after a prolonged downturn in crypto trading volumes. The broader digital asset industry has seen similar cost-cutting moves from exchanges and service providers as volatility, regulatory scrutiny, and institutional caution reshape growth expectations.
Financial Strain Behind the Strategy
Recent unaudited figures help explain the urgency behind the reset. Gemini reported that monthly transacting users rose about 17% year over year to roughly 600,000, showing that activity has not disappeared. Net revenue is projected between $165 million and $175 million, up from $141 million in the prior year.
Yet costs have climbed much faster. Operating expenses are estimated to reach around $530 million, resulting in adjusted EBITDA losses of roughly $260 million and total net losses that could approach $600 million. In earlier communications about layoffs, the company said it was operating in a “low-growth and highly competitive environment,” adding that it needed to “create efficiencies and focus on our core strengths.” That message now appears to define its 2026 strategy.
Gemini rose to prominence by branding itself as a regulated, compliance-focused alternative in crypto’s early days. But as the industry matures and competition intensifies, even established players are being forced to adapt. The latest restructuring signals a shift from global ambition to disciplined consolidation.
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