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Gemini to Lay Off 25% of Workforce, Exit UK, EU, and Australia Markets

Gemini to Lay Off 25% of Workforce, Exit UK, EU, and Australia Markets

Gemini will focus on its U.S. and Singapore operations, reducing its global workforce by 25%, exiting foreign markets, and partnering with eToro for asset transfers.

Summary

Gemini will lay off 25% of its global workforce and cease operations in the UK, EU, and Australia. Affected customer accounts will enter withdrawal-only mode on March 5, 2026, before full closure in April. The company is focusing on the U.S. market and investing in prediction markets, with plans to enter this space. Gemini has partnered with eToro to assist with customer asset transfers.

Terms & Concepts
  • Withdrawal-only mode: An account state allowing users to remove funds but preventing new deposits or trading.
  • Cryptocurrency exchange: A platform that enables buying, selling, and trading of cryptocurrencies for fiat or other digital assets.
  • Prediction markets: Markets where users can bet on the outcomes of future events, with a focus on predicting financial, political, or economic trends.