Potential Buyers Evaluate Partial Acquisition of Gemini Exchange: CoinDesk
Interested parties are apparently hunting for a regulatory shortcut to more easily enter European and British crypto markets.
According to reporting fro CoinDesk, unnamed potential buyers are evaluating an acquisition of parts of Gemini Space Station (NASDAQ: GEMI), the crypto exchange backed by the billionaire Winklevoss twins.
What's the Scoop?
- Looming Purchase: Potential buyers are exploring the acquisition of parts of crypto exchange Gemini, according to a person with direct knowledge of the matter cited by CoinDesk. Buyers are apparently interested in acquiring the exchange's shuttered operations in Europe and the United Kingdom as a ploy to more easily obtain regulatory licenses in these jurisdictions.
- Overseas Retreat: This February, Gemini laid off roughly 25% of its workforce and announced an overseas retreat and shuttered international operations across the United Kingdom, European Union, and Australia as part of a broader effort to increase productivity and manage costs.
CRYPTO M&A: Potential buyers are circling Winklevoss-backed crypto exchange Gemini (GEMI)
Interested parties are considering buying select parts of the business, particularly its shuttered European operations, to secure regulatory licenses, rather than pursuing a full takeover.
Will Canny
Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
