TL;DR
- Three Gemini executives, including COO, CFO and CLO, depart the same day.
- Gemini stock drops over 13% despite broader market gains.
- The exits come five months after the Nasdaq IPO and a 25% staff reduction.
Gemini Space Station, the parent company of cryptocurrency exchange Gemini, announced the immediate departure of three C-suite executives in a Tuesday filing with the U.S. Securities and Exchange Commission. Chief operating officer Marshall Beard, chief financial officer Dan Chen, and chief legal officer Tyler Meade all exited the company on the same day, triggering a leadership restructuring that places more weight on co-founder Cameron Winklevoss.
Gemini said it does not plan to fill Beard’s role. Winklevoss takes on revenue-generating responsibilities previously held across the departing leadership. Danijela Stojanovic, formerly Gemini’s chief accounting officer, steps in as interim CFO. The company also confirmed Beard resigned from its board.
Shares of Gemini Space Station traded at $6.54 at the time of publication, down more than 13%, even as broader U.S. equity markets posted gains.
A Company Still Finding Its Footing After Going Public
The executive departures arrive roughly five months after Gemini’s Nasdaq IPO, which raised $425 million in September. The timing adds pressure to a company already undergoing a sharp strategic contraction.
“We expect to enter into a separation agreement with each of these individuals with potential eligibility to provide additional transition services for a limited period of time in exchange for continued base salary and employee benefits for the duration of such period,” said Gemini.
Just weeks earlier, Gemini announced a 25% staff reduction and confirmed its exit from the United Kingdom, European Union, and Australian markets, redirecting resources toward U.S. operations and its prediction market platform.
Despite the turbulence, the Tuesday SEC filing included a preview of year-end 2025 results that showed net revenue in the range of $165 million to $175 million, up from $141 million in 2024. The improvement came primarily from growth in credit card revenue, which drove higher services income across the platform.
On the regulatory front, Gemini also secured a quiet legal win earlier this year. In January, the SEC dismissed a civil case filed against Gemini Trust Company in 2023 over alleged unregistered securities offerings — part of a broader softening in crypto enforcement under the current administration. For a company rebuilding its leadership structure after a chaotic post-IPO stretch, that legal clarity removes at least one variable from an already complicated equation.
