Gemini, the Winklevoss-founded crypto exchange, said Tuesday that three top executives left after shares plunged about 76% since its September IPO.
Why it matters: A steep post-IPO selloff and C-suite churn raise fresh questions about company governance and the exchange's unit economics.
Driving the news: The company said COO Marshall Beard, CFO Dan Chen and chief legal officer Tyler Meade are departing immediately. Beard also stepped down from the board.
- President Cameron Winklevoss will absorb some COO duties, while Danijela Stojanovic became interim CFO and Kate Freedman took over as interim general counsel.
Context: The moves follow plans to cut up to 25% of staff and wind down its U.K., EU and Australian operations.
What's next: Gemini will report its Q4 results on March 2.
