Gemini Exits U.K., EU, Australia Amid Workforce Reduction

Gemini, co-founded by Tyler and Cameron Winklevoss, will exit markets in the UK, EU, and Australia by April 2026, affecting staff and customers.

This strategic refocus aims to maximize operational efficiency, reduce costs, and bolster U.S. and Singapore operations amidst challenging foreign market conditions.

Gemini to Exit Three Markets by April 2026

Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, plans to exit the U.K., EU, and Australia by April 6, 2026. Customer accounts will transition to withdrawal-only mode starting March 5, following a 25% workforce reduction.

Founders attributed the changes to challenges in foreign markets leading to increased operational complexity. The company plans to focus operations in the U.S. and Singapore while incurring $11 million in restructuring expenses.

“These foreign markets have proven hard to win in for various reasons and we find ourselves stretched thin with a level of organizational and operational complexity that drives our cost structure up and slows us down.” — Tyler Winklevoss, Co-Founder and Co-CEO, Gemini

Gemini’s Announcement Leads to Nasdaq Slide

The announcement prompted a 5-7% drop in Gemini’s NASDAQ stock. Bitcoin prices also fell, shedding over 8% within 24 hours. No direct statements from influential market figures have emerged so far.

Gemini’s decision aligns with a broader industry scale-back amid tightened regulations in 2025. Analysts anticipate these moves may enhance Gemini’s efficiency and speed, although initial workforce contraction creates immediate operational contractions.

Restructuring Amid Regulatory Pressures

While similar scale-backs have occurred, current regulatory climates pose unique challenges unseen in previous years. Decreased volumes in 2025 sparked widespread strategic adjustments across the cryptocurrency sector.

Experts from Kanalcoin suggest Gemini’s restructuring could streamline their operations in more favorable regions. Future market performance may depend significantly on regulatory developments and the company’s ability to adapt.

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