Crypto Exchange Gemini Exits the UK, EU, and Australian Markets

Gemini is exiting the cryptocurrency markets of the United Kingdom, the European Union, and Australia and is reducing its workforce by approximately a quarter to focus on operations in the United States.

This was announced by the company’s founders, Tyler Winklevoss and Cameron Winklevoss. According to them, Gemini is scaling back operations in regions where demand does not justify the growing operational complexity and costs.

“For various reasons, we found it difficult to gain a foothold in these overseas markets and ended up in a challenging position,” the Winklevoss twins said.

The nearly 25% workforce reduction at Gemini was explained as a transition to a “more efficient operating model” based on the use of AI in both technical and non-technical areas. The company believes that a smaller organization can operate faster and more effectively.

“In 2022, our workforce peaked at around 1,100 employees. By the end of 2025, we were down to about 50% of that number. Today, we are reducing staff again by approximately 25%,” the company stated.

While reducing its international presence, Gemini is expanding in the United States. The company recently received approval from the Commodity Futures Trading Commission (CFTC) to launch a regulated prediction market and announced plans to expand its range of services in the near future.

See also: "Bitget Recorded 45.5% Growth Among Leading Crypto Exchanges in 2025"

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