Gemini cuts 25% of staff and exits UK and EU markets amid ongoing crypto downturn
Gemini, the crypto trade based by Cameron and Tyler Winklevoss, introduced Thursday it’s chopping 25% of its workforce and exiting operations within the UK, EU and Australia as a part of a serious restructuring.
The transfer comes as Bitcoin dropped under $70,000 Thursday morning, erasing good points made since its $69,000 all-time excessive in late 2021.
The trade mentioned it could refocus its enterprise across the US market, AI-powered productiveness and prediction markets. In its “Gemini 2.0” replace, the corporate emphasised that smaller, AI-augmented groups are actually simpler and aligned with its evolving mission.
Gemini highlighted early traction in its Gemini Predictions platform, which has processed over $24 million in quantity since launching in December.
The information comes as Gemini confirmed it’s going to shut down its $NFT market Nifty Gateway on February 23, following a chronic decline in $NFT buying and selling volumes. Customers have been instructed to withdraw their belongings earlier than the shutdown, although $NFT assist will proceed by way of Gemini Pockets.
The announcement coincided with contemporary strain on crypto markets. Gemini inventory, which debuted in September 2025, fell practically 7% on Thursday, extending losses to just about 80% from its IPO value and marking a brand new all-time low.
Gemini mentioned narrowing its geographic footprint and product focus would assist decrease bills and speed up its path to profitability.
