- The US crypto exchange Gemini wants to completely withdraw from Europe and Australia.
- Man will its operational business focus on the USA and Singapore and lay off up to 200 employees.
The management justifies the step with the need to streamline the operational structure and secure profitability in an increasingly challenging market environment. The retreat from several international markets is intended to reduce the effort of adapting to regulations in different states and to concentrate resources on regions with higher priority.
Realignment on two core markets
The planned job cuts affect employees in Europe, the USA and Singapore. Gemini expects to incur around $11 million in costs as a result of the restructuring. These include severance payments, social benefits, costs for site closures and consulting expenses.
The majority of the financial burden is expected to be recorded in the first quarter. The measures are expected to be completed by the end of the first half of 26.
Gemini is reacting like numerous other tech and crypto companies, which have been compensating for falling sales and a difficult financing environment with staff cuts since the beginning of the year.
Consequences for customers in Europe and Australia
Gemini sets clear deadlines for customers in the affected regions. From March 5, 2026, accounts will be transitioned to a withdrawal-only mode before being permanently closed on April 6, 2026.
Customers should close their open futures positions, stop staking activities and secure their transaction histories. Gemini is working with eToro for the transition, but emphasizes that customers can also transfer the management of their assets to any other asset manager.
The new market environment
The withdrawal from several international markets is one of the clearest consolidation measures to date by a major crypto exchange in the current market environment. While competitors rationalize but maintain their global presence, Gemini relies on a radical focus.
Whether the strategy is successful in the long term depends largely on the development of US regulation, market dynamics and the profitability of the remaining business areas.
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