Overview
- COO Marshall Beard, CFO Dan Chen and CLO Tyler Meade left effective immediately, with Beard also resigning from the board and the company saying his exit was not due to a disagreement.
- Danijela Stojanovic was named interim CFO and Kate Freedman interim general counsel, while Gemini will not backfill the COO role as Cameron Winklevoss assumes many of those responsibilities.
- Preliminary 2025 guidance projects net revenue of $165–$175 million, an adjusted pre‑tax loss of $257–$267 million, operating expenses of $520–$530 million and net losses estimated at roughly $587–$602 million.
- Shares fell roughly 10%–15% in Tuesday trading following the disclosures, extending a slide from the company’s September IPO.
- The leadership changes follow plans to wind down exchange operations in the U.K., EU and Australia and to cut about 25% of staff as the firm refocuses on the U.S. market and products such as prediction markets.