Gemini reportedly exits UK and Europe in sub-$10 million sale
Gemini sold its UK and European operations to Singapore-based KAST for less than $10 million as the exchange continued a broader regional retreat.
Gemini sold its UK and European operations to Singapore-based KAST for less than $10 million as the exchange continued a broader regional retreat. This is an original TLT brief synthesising 2 outlets (Blockonomi, Crypto.news), plus live market data, as of Thu, 12 Nov 2026 23:30:06 UTC.
The low reported sale price and planned workforce reduction mark a significant contraction in Gemini's international footprint. The transaction also highlights how the exchange is shifting toward a smaller operating model following weakness in exchange revenue.
- Gemini reportedly sold its UK and European businesses to KAST.
- The transaction was valued at less than $10 million.
- A February plan covered exits from the UK, EU and Australia.
- Gemini's second-quarter exchange revenue fell 38% to $12.5 million.
Blockonomi and Protos agree that Gemini sold its UK and European operations to Singapore-based stablecoin firm KAST, with Blockonomi reporting a price below $10 million. Blockonomi connects the sale to Gemini's February plan to exit the UK, EU and Australia and cut 25% of its global workforce, while Protos frames it as part of broader cost-cutting. The outlets do not conflict on the buyer or regions involved, but only Blockonomi supplies the transaction value, workforce figure and second-quarter revenue figures.
Gemini reportedly sold its UK and European businesses to KAST, a Singapore-based stablecoin company, for less than $10 million. Blockonomi identified the buyer as Singapore-based KAST, while Protos described the transaction as the sale of Gemini Space Station's UK and Europe operations. Both reports characterize the disposal as part of Gemini's efforts to reduce costs.
The sale follows Gemini's February announcement that it would exit the UK, European Union and Australia. Blockonomi also reported that the broader plan included shedding 25% of the company's global workforce. The transaction therefore appears to advance an international retrenchment that had already been announced rather than represent a separate strategic shift.
The two outlets corroborate the central facts: the seller was Gemini, the buyer was KAST, and the businesses covered were in the UK and Europe. Their emphasis differs somewhat. Protos highlighted the sale as a cost-cutting measure, whereas Blockonomi placed it within the previously announced multi-market exit and workforce reduction.
Gemini's reported second-quarter figures provide context for the restructuring. Exchange revenue fell 38% to $12.5 million, while services revenue increased 149% year over year. Those figures show a pronounced change in Gemini's revenue mix, with weaker exchange activity alongside substantial growth in services, although the supplied coverage does not quantify the sale's effect on operations.
The wider crypto market was broadly lower during the reported market snapshot. Total capitalization stood at $2.45 trillion, 
Bitcoin was down 4.23% over 24 hours, and the Fear & Greed index registered 28, indicating a Fear reading. The market backdrop does not establish a cause for Gemini's restructuring; the more direct supplied context is the exchange's revenue decline, regional exit plan and workforce reduction.
Gemini reportedly exits UK and Europe in sub-$10 million sal — questions & answers
Who bought Gemini's UK and European businesses?
Both Blockonomi and Protos report that the buyer was Singapore-based stablecoin firm KAST.
How much was Gemini's European sale worth?
Blockonomi reports that the transaction was for less than $10 million. Protos did not provide a valuation.
What broader changes accompanied the sale?
The sale followed Gemini's February plan to exit the UK, EU and Australia and reduce its global workforce by 25%.
How did Gemini's exchange revenue change?
Second-quarter exchange revenue fell 38% to $12.5 million, while services revenue rose 149% year over year.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Blockonomi, Crypto.news, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.