Gemini Sells UK and Europe Business to KAST for Under $10 Million

Odaily: Gemini has sold its UK and Europe business to stablecoin payments company KAST for under $10 million. According to people familiar with the matter, Gemini Space Station (GEMI), the holding company founded by the Winklevoss brothers, completed the deal. About a month ago, a KAST job posting referenced the transaction, requiring the new General Manager for Europe to oversee the transfer of Gemini's UK and EU employees' operations. Gemini declined to comment. A KAST spokesperson did not directly address the deal but said the company is actively pursuing M&A opportunities as revenue and business coverage expand. The sale follows Gemini's decision to scale back its international operations and restructure its business to reduce costs and achieve profitability. In February of this year, Gemini announced plans to gradually wind down operations in the UK, EU, and Australia, and cut approximately 25% of its global workforce, while retaining operations in the US and Singapore markets.