Gemini (GEMI) Stock Plummets Amid Workforce Reduction and Regional Exit
Gemini Space Station (GEMI) has announced a significant restructuring, cutting 25% of its global workforce—approximately 200 employees—across Europe, the U.S., and Singapore. The crypto exchange will cease operations in the U.K., European Union, and Australia by April 2026, narrowing its focus to the U.S. and Singapore markets.
Customer accounts in affected regions will transition to withdrawal-only mode starting March 5, 2026. eToro has been tapped to facilitate asset transfers for users in these jurisdictions. The news sent Gemini's stock tumbling 7%, compounding a 73.8% decline from its $28 IPO price in September 2025.
Despite the retreat, founders Cameron and Tyler Winklevoss are doubling down on prediction markets, citing strong traction with over 10,000 users trading $24 million since the December launch of Gemini Predictions.
