Gemini is withdrawing from the U.K., AB, and Australia.

Gemini to Reduce Global Workforce by 25%

Gemini Space Station Inc. has decided to reduce its global workforce by 25% and shut down its cryptocurrency exchange operations in the United Kingdom, European Union, and Australia. The company will focus solely on the U.S. and Singapore markets.

Customer accounts in the affected areas will switch to withdrawal-only mode on March 5, 2026, and full shutdown operations will occur in April. Gemini will collaborate with the intermediary platform eToro to assist users in transferring their assets.

The company's founders Tyler and Cameron Winklevoss stated that they have made the decision to exit underperforming foreign markets. However, they mentioned that they will redirect their investment strategy towards the U.S. market and prediction markets. They believe that these prediction markets can compete with traditional capital markets.