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Gemini Cuts 25% Workforce Amid Market Challenges and Losses

2/6/2026

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Summary

Story summary

Gemini, led by Cameron Winklevoss and Tyler Winklevoss, will lay off up to 25% of staff and exit operations in UK, EU, Australia.
The layoffs affect around 200 employees and refocus on the US market.
The Winklevoss twins cite foreign market challenges and weak demand as reasons for the cuts.
Bitcoin's price has fallen below $70,000, contributing to a quarterly loss of $159.5 million and layoffs to finish by mid-2026.

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Story summary

Gemini, led by Cameron Winklevoss and Tyler Winklevoss, will lay off up to 25% of staff and exit operations in UK, EU, Australia.
The layoffs affect around 200 employees and refocus on the US market.
The Winklevoss twins cite foreign market challenges and weak demand as reasons for the cuts.
Bitcoin's price has fallen below $70,000, contributing to a quarterly loss of $159.5 million and layoffs to finish by mid-2026.