Gemini announced it will withdraw from the crypto markets in the UK, the European Union, and Australia, and cut approximately 25% of its workforce. The company is scaling back its global operations to refocus its efforts on the US market.
In a blof post, founders Tyler and Cameron Winklevoss said Gemini would reduce operations in areas where demand could no longer support the increasing complexity and operating costs.
“These two overseas markets are difficult to develop for a number of reasons, and we are too spread too thin,” the Winklevoss twins Chia , adding that demand in those areas no longer warrants continued investment.
Regarding the staff reduction, Gemini stated that it is part of a more "lean" operational direction, in which AI is applied more extensively in both technical and non-technical areas. According to the company, a smaller team can help make decisions faster, operate more efficiently, and stay closer to the core strategy.
Gemini stated that its workforce peaked at approximately 1,100 people in 2022. By the end of 2025, that number had dropped to about half, and is now continuing to decline by another 25%.
This latest round of austerity measures is the newest restructuring step after multiple layoffs since 2022, as crypto companies have had to adapt to tight liquidation , reduced trading Volume , and increased legal compliance costs following the previous market cycle.
While reducing its overseas workforce, Gemini is expanding its presence in the US. Recently, the company received approval from the US Commodity Futures Trading Commission (CFTC) to implement a regulated prediction market, and has also hinted at plans to expand into other derivative products.
Gemini also stated that the U.S. Securities and Exchange Commission (SEC) is expected to dismiss the long-running lawsuit related to the Gemini Earn program, after affected customers have received full reimbursement – thus ending a three-year legal battle.
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