Gemini shutters operations across Europe and Australia to focus on the U.S. and prediction markets
Gemini is exiting the U.K., EU, and Australia, cutting staff by 25%, to concentrate on the U.S. market and prediction markets.Summary
The crypto exchange Gemini is ceasing operations in the U.K., European Union, and Australia, effective April 6, 2026, and reducing its staff by 25% to focus its resources primarily on the U.S. market and prediction markets.
Gemini instructed affected customers to sign up with eToro by March 5, 2026, to assist in transferring their assets, as all accounts in the exiting regions will be placed in withdrawal mode, with new accounts and incentive programs disabled.
CEO Tyler and President Cameron Winklevoss cited difficulties gaining traction in the exiting regions, emphasizing that the U.S. remains the core focus due to its superior capital markets. They also expressed a strong belief that prediction markets will eventually surpass traditional capital markets, noting their investment in securing a license for their own Gemini Predictions marketplace.
(Source：CoinDesk)