Gemini Cuts Jobs, Exits Crypto Betting to Refocus Core Exchange

• Gemini laid off workers as a strategic restructuring affecting up to 25% of its workforce.
• It got out of crypto betting to focus on regulated core products.
• The move reflects an increasing pressure within the industry for compliance with sustainability concerns.

Gemini laid off some of its workforce, numbering up to 200 employees, and stepped back from crypto betting initiatives. The move represents a strategic shift towards reliable and sustainable sources of income at a time when cryptocurrency businesses are being tested in terms of volatility and regulation.

Industry-wide belt-tightening has been observed within recent months across 2024 and 2025, and stories like crypto exchange layoffs and increasing pressures from regulators on crypto firms further intensify this implication of companies not only adapting to survive changes within market dynamics but doing so efficiently instead of expanding to riskier offerings.

The executives framed the decision as a long-term play. They emphasized that narrowing the product scope helps Gemini to strengthen its compliance, operational focus, and resource services that align well with the regulations in the US, UK, EU, and Australia.

Exit From Crypto Betting Marks Clear Shift

A Gemini selloff in crypto betting marks a clear shift in risk appetite. Betting-related products are an edgy genre, usually receiving considerable scrutiny for consumer protection concerns and ambiguous regulatory treatment. In stepping back, Gemini will limit its exposure to legal uncertainty and affirm its identity as a regulated exchange rather than an experimental fintech platform across three major regions.

This shift also somewhat reflects the change in user demand, where many institutional and retail users are indifferent towards stability, custody, and fiat on-ramp options, but are instead more focused on speculative features, including Gemini, which seems to follow user demand with its roadmap that has already processed over $24 million in volume from 10,000 users.

Workforce Reductions Aim to Streamline Operations

Affected teams were those associated with non-core initiatives, including the efforts that had to do with betting. Gemini maintained that such changes help streamline operations to make them long-term resilient. At the same time, layoffs remain painful, and the company positioned them as necessary steps in adapting to market realities, rather than a sign of financial distress tied to restructuring costs of about $11 million.

In the cryptocurrency sector, most workforce cuts come along with strategic refocusing. Companies cut their experimental parts while continuing to invest in products that earn revenue and meet compliance standards, a challenge Gemini has faced since its launch in 2014.

Broader Industry Context and Market Reaction

Crypto markets have taken the news calmly, and experts have pointed out that only a handful of exchanges that have a strong regulatory foundation might see an advantage in the long run as some players exit the stage while Bitcoin prices dipped below $70,000.

Mainstream publications from these outlets show this shift in how such actions are now understood within the industry, progressing from a discussion of decline to a conversation of maturation after Gemini reported a $159.5 million loss.

What This Means for Gemini’s Future

The decision underscores a greater transition within the industry, from one that speeds headlong with rapid experimentation to one that embraces disciplined execution. By refocusing on its exchange, custody, and compliance-driven services, Gemini sets its sails to better its chances of surviving in a tough regulatory climate as customer accounts move into withdrawal-only mode starting March 5.

If successful, it would be in a position to attract both institutional clients and regulators with the same fervor. The move will also signal to the market that survival now depends less on bold bets and more on operational discipline and regulatory alignment ahead of full account closures a month later.

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