Gemini to Cut 200 Jobs, Exit Europe and Australia
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, said Thursday it will cut up to 200 jobs worldwide and scale back operations to the U.S. and Singapore. The move, approved by the company's leadership, is part of a broader cost-cutting strategy aimed at slimming global operations after years of market headwinds. Gemini will exit Europe and Australia, according to the announcement.
The reduction narrows Gemini's footprint to its largest and most strategic markets and will affect employees and customers in the regions being closed. The decision underscores ongoing consolidation across crypto exchanges as firms trim costs and refocus amid regulatory and market pressures. For users and partners in Europe and Australia, the change raises questions about account access and service continuity; Gemini did not detail transition plans in the initial notice. The company said concentrating resources in the U.S. and Singapore will better position it to pursue growth within those jurisdictions.