Gemini Retrenches During Crypto Downturn, Exits UK, EU and Aus

The overhaul, affecting 200 jobs, will hit employees across Europe, the US and Singapore.

Customer accounts in the affected regions will enter withdrawal-only mode from 5 March 2026, with full closures scheduled for 6 April.

In a blog post announcing the restructuring, Gemini founders the Winklevoss twins, say: “We expect this will help reduce our total expenses in line with our headcount reduction and meaningfully accelerate our path to profitability even in the backdrop of the current crypto market.”

Gemini will concentrate operations in the US and Singapore, with a tighter focus on prediction markets, following a mid-December launch which has attracted more than 10,000 users and over $24 million in trading volume.

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