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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.
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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