Winklevoss-founded crypto exchange Gemini is reportedly in talks with potential buyers interested in acquiring select parts of its business.
Shares of Gemini, the crypto exchange founded by the Winklevoss twins, rose about 12% amid reports that potential buyers are exploring parts of the business, rather than a full takeover.
Interest appears to be centered on Gemini’s shuttered British and European operations, CoinDesk reported, citing a person familiar with the matter. The bidders are mainly looking to secure regulatory licenses, not the exchange’s trading operations.
That focus reflects how hard those approvals are to replicate. Gemini had built a patchwork of registrations across Europe, including a Markets in Crypto-Assets (MiCA) license, as well as permissions tied to the U.K.’s Financial Conduct Authority.
Any deal would still trigger a “change of control” review, meaning regulators would reassess the buyer instead of simply transferring the licenses, the report notes.
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Gemini Shares Rise Despite Deep Cuts
The interest follows a broader pullback at the company. Earlier this year, Gemini cut about 25% of its workforce and exited the U.K., the European Union, and Australia, narrowing its focus to the U.S. and Singapore only.
In a blog post at the time, Gemini said the move was part of a push to simplify and consolidate operations after expanding to more than 60 countries, arguing that overseas markets had become too costly and complex relative to demand.
The restructuring was also followed by the departure of its chief operating, financial and legal officers.
Gemini shares initially jumped on the news about 12%, though later gave back part of the gains, trading around $4.78, still sharply below the company’s $28 IPO price in September 2025. As of press time, neither Tyler nor Cameron Winklevoss made any public comments on the matter.
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