Gemini Space Station

Summary

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, plans to cut up to 200 jobs—about 25% of its workforce—as part of a cost-cutting push, while refocusing operations on the U.S. and Singapore. The company will wind down business in the UK, the EU, other parts of Europe, and Australia, aiming to reduce expenses and speed up its path to profitability amid a crypto market downturn. The restructuring, expected to be largely completed by the first half of 2026, will cost about $11 million pre-tax, mostly recorded in the first quarter.