Gemini reportedly sells UK and Europe operations to KAST in cost-cutting move

Gemini, the exchange founded by the Winklevoss twins, has reportedly sold its UK and Europe operations to stablecoin firm KAST as part of cost-cutting measures. The reported exit shrinks Gemini's international footprint and suggests the exchange is retrenching amid cost pressure. Traders should watch whether the pullback signals wider distress at the exchange or a narrower focus on its core US business.