[DigitalToday reporter Chi-gyu Hwang (황치규)] Cryptocurrency exchange Gemini said it will cut up to 25 percent of its workforce in February and withdraw from the UK, European Union and Australian markets. Gemini has also recently reduced its U.S. workforce, and its chief operating officer, chief financial officer and chief legal officer have left the company in succession. The personnel changes are part of cost-cutting efforts.
Gemini's global spot trading market share fell to 0.1 percent in January. That compares with 0.6 percent in June last year, a sharp drop in six months. Over the same period, spending rose about 70 percent, while net profit growth was limited to 17 percent. The three overseas markets it is exiting accounted for about 15 percent of total revenue from January to September 2025.
Gemini is shifting its business direction toward prediction markets. After obtaining a U.S. Commodity Futures Trading Commission (CFTC) license, it launched a prediction market platform in December last year. Cumulative trading volume on Gemini's prediction platform has remained at about $24 million.
Chi-gyu Hwang
delight@d-today.co.kr