Markets Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Gemini to exit U.K., EU and Australia, reduc Markets Share Share this article Copy linkX (Twitter)LinkedInFacebookEmail Gemini to exit U.K., EU and Australia, reduc

Gemini to exit U.K., EU and Australia, reduce staff by 25%, and focus on U.S. and prediction markets

2026/02/06 01:11
4 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com
Share
Share this article
Copy linkX (Twitter)LinkedInFacebookEmail

Gemini to exit U.K., EU and Australia, reduce staff by 25%, and focus on U.S. and prediction markets

The crypto exchange has instructed affected customers to sign up with eToro by the end of March for withdrawals, while deposits and new accounts have been suspended.

By Olivier Acuna, Will Canny|Edited by Jamie Crawley
Updated Feb 5, 2026, 5:14 p.m. Published Feb 5, 2026, 5:11 p.m.
Make us preferred on Google
Gemini co-founders Cameron and Tyler Winklevoss said shut down operations in the U.K., Australia, the EU. They will also reduce their workforce. (Jesse Hamilton/CoinDesk)

What to know:

  • Gemini Space Station Inc. is cutting its global workforce by 25% and shutting down its crypto exchange operations in the U.K., European Union and Australia, and keeping only its U.S. and Singapore businesses.
  • Customer accounts in the affected regions will enter withdrawal-only mode on March 5, 2026, ahead of full closures in April, with Gemini partnering with brokerage platform eToro to help users transfer their assets.
  • Founders Tyler and Cameron Winklevoss said they are exiting underperforming foreign markets to focus on the U.S. and to invest in prediction markets, which they believe could eventually rival or surpass traditional capital markets.

Gemini Space Station Inc. (GEMI) is shutting down operations in the U.K., the European Union (EU) and Australia.

The crypto exchange is also reducing its staff by 25%, according to a blog post on Thursday that suggests it is focusing resources into prediction markets.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Sign me up

“Effective 6 April 2026, Gemini will be ceasing operations in the United Kingdom,” the crypto trading platform said in an email sent to customers seen by CoinDesk which does not mention Australia or Europe. “Starting 5 March 2026, all customer accounts in these regions will be placed in withdrawal mode.”

New York-based Gemini stated that it had partnered with brokerage platform eToro to assist customers with their offboarding process. It instructed customers to sign up with eToro so they could “assist in transferring your assets.” Full closures of all accounts will follow in April, the New York-based company said. New account creation and incentive programs will also be disabled.

Crypto equities have lagged broader markets as risk sentiment shifted in early 2026. While major stock indices have posted gains, leading digital-asset–linked equities have slid, reflecting waning investor appetite and tightening liquidity. This underperformance underscores a retrenchment of speculative capital from crypto-linked stocks.

Tyler and Cameron Winklevoss, CEO and President of Gemini, cited difficulties gaining traction in the U.K., Europe and Australian markets as their reason for exiting them, while saying the U.S. has been great to them.

“The reality is that America has the world’s greatest capital markets and America has always been where it’s at for Gemini,” they said. “So it's time for Gemini to focus and double down on America.”

Tyler and Cameron also shared their view that prediction markets would outgrow capital markets, saying they have plans to venture into this sector.

“Our thesis is that prediction markets will be as big or bigger than today’s capital markets,” they said. “Our investment in securing a license to launch our own prediction marketplace positions us as an early mover on this new and exciting frontier.”

They added that more than 10,000 users have traded over $24 million since the debut of Gemini Predictions in mid-December.

Gemini, which went public in September, has seen its shares fall about 23% since the start of 2025 amid a broader downturn in crypto prices. The stock was down 2.8% on Thursday.

Read more: SEC dismisses lawsuit against billionaire Winklevoss twins-backed Gemini over Earn product

GeminiCrypto ExchangePrediction Markets
Market Opportunity
Union Logo
Union Price(UNION)
$0.0005406
$0.0005406$0.0005406
-14.94%
USD
Union (UNION) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Lovable AI’s Astonishing Rise: Anton Osika Reveals Startup Secrets at Bitcoin World Disrupt 2025

Lovable AI’s Astonishing Rise: Anton Osika Reveals Startup Secrets at Bitcoin World Disrupt 2025

BitcoinWorld Lovable AI’s Astonishing Rise: Anton Osika Reveals Startup Secrets at Bitcoin World Disrupt 2025 Are you ready to witness a phenomenon? The world of technology is abuzz with the incredible rise of Lovable AI, a startup that’s not just breaking records but rewriting the rulebook for rapid growth. Imagine creating powerful apps and websites just by speaking to an AI – that’s the magic Lovable brings to the masses. This groundbreaking approach has propelled the company into the spotlight, making it one of the fastest-growing software firms in history. And now, the visionary behind this sensation, co-founder and CEO Anton Osika, is set to share his invaluable insights on the Disrupt Stage at the highly anticipated Bitcoin World Disrupt 2025. If you’re a founder, investor, or tech enthusiast eager to understand the future of innovation, this is an event you cannot afford to miss. Lovable AI’s Meteoric Ascent: Redefining Software Creation In an era where digital transformation is paramount, Lovable AI has emerged as a true game-changer. Its core premise is deceptively simple yet profoundly impactful: democratize software creation. By enabling anyone to build applications and websites through intuitive AI conversations, Lovable is empowering the vast majority of individuals who lack coding skills to transform their ideas into tangible digital products. This mission has resonated globally, leading to unprecedented momentum. The numbers speak for themselves: Achieved an astonishing $100 million Annual Recurring Revenue (ARR) in less than a year. Successfully raised a $200 million Series A funding round, valuing the company at $1.8 billion, led by industry giant Accel. Is currently fielding unsolicited investor offers, pushing its valuation towards an incredible $4 billion. As industry reports suggest, investors are unequivocally “loving Lovable,” and it’s clear why. This isn’t just about impressive financial metrics; it’s about a company that has tapped into a fundamental need, offering a solution that is both innovative and accessible. The rapid scaling of Lovable AI provides a compelling case study for any entrepreneur aiming for similar exponential growth. The Visionary Behind the Hype: Anton Osika’s Journey to Innovation Every groundbreaking company has a driving force, and for Lovable, that force is co-founder and CEO Anton Osika. His journey is as fascinating as his company’s success. A physicist by training, Osika previously contributed to the cutting-edge research at CERN, the European Organization for Nuclear Research. This deep technical background, combined with his entrepreneurial spirit, has been instrumental in Lovable’s rapid ascent. Before Lovable, he honed his skills as a co-founder of Depict.ai and a Founding Engineer at Sana. Based in Stockholm, Osika has masterfully steered Lovable from a nascent idea to a global phenomenon in record time. His leadership embodies a unique blend of profound technical understanding and a keen, consumer-first vision. At Bitcoin World Disrupt 2025, attendees will have the rare opportunity to hear directly from Osika about what it truly takes to build a brand that not only scales at an incredible pace in a fiercely competitive market but also adeptly manages the intense cultural conversations that inevitably accompany such swift and significant success. His insights will be crucial for anyone looking to understand the dynamics of high-growth tech leadership. Unpacking Consumer Tech Innovation at Bitcoin World Disrupt 2025 The 20th anniversary of Bitcoin World is set to be marked by a truly special event: Bitcoin World Disrupt 2025. From October 27–29, Moscone West in San Francisco will transform into the epicenter of innovation, gathering over 10,000 founders, investors, and tech leaders. It’s the ideal platform to explore the future of consumer tech innovation, and Anton Osika’s presence on the Disrupt Stage is a highlight. His session will delve into how Lovable is not just participating in but actively shaping the next wave of consumer-facing technologies. Why is this session particularly relevant for those interested in the future of consumer experiences? Osika’s discussion will go beyond the superficial, offering a deep dive into the strategies that have allowed Lovable to carve out a unique category in a market long thought to be saturated. Attendees will gain a front-row seat to understanding how to identify unmet consumer needs, leverage advanced AI to meet those needs, and build a product that captivates users globally. The event itself promises a rich tapestry of ideas and networking opportunities: For Founders: Sharpen your pitch and connect with potential investors. For Investors: Discover the next breakout startup poised for massive growth. For Innovators: Claim your spot at the forefront of technological advancements. The insights shared regarding consumer tech innovation at this event will be invaluable for anyone looking to navigate the complexities and capitalize on the opportunities within this dynamic sector. Mastering Startup Growth Strategies: A Blueprint for the Future Lovable’s journey isn’t just another startup success story; it’s a meticulously crafted blueprint for effective startup growth strategies in the modern era. Anton Osika’s experience offers a rare glimpse into the practicalities of scaling a business at breakneck speed while maintaining product integrity and managing external pressures. For entrepreneurs and aspiring tech leaders, his talk will serve as a masterclass in several critical areas: Strategy Focus Key Takeaways from Lovable’s Journey Rapid Scaling How to build infrastructure and teams that support exponential user and revenue growth without compromising quality. Product-Market Fit Identifying a significant, underserved market (the 99% who can’t code) and developing a truly innovative solution (AI-powered app creation). Investor Relations Balancing intense investor interest and pressure with a steadfast focus on product development and long-term vision. Category Creation Carving out an entirely new niche by democratizing complex technologies, rather than competing in existing crowded markets. Understanding these startup growth strategies is essential for anyone aiming to build a resilient and impactful consumer experience. Osika’s session will provide actionable insights into how to replicate elements of Lovable’s success, offering guidance on navigating challenges from product development to market penetration and investor management. Conclusion: Seize the Future of Tech The story of Lovable, under the astute leadership of Anton Osika, is a testament to the power of innovative ideas meeting flawless execution. Their remarkable journey from concept to a multi-billion-dollar valuation in record time is a compelling narrative for anyone interested in the future of technology. By democratizing software creation through Lovable AI, they are not just building a company; they are fostering a new generation of creators. His appearance at Bitcoin World Disrupt 2025 is an unmissable opportunity to gain direct insights from a leader who is truly shaping the landscape of consumer tech innovation. Don’t miss this chance to learn about cutting-edge startup growth strategies and secure your front-row seat to the future. Register now and save up to $668 before Regular Bird rates end on September 26. To learn more about the latest AI market trends, explore our article on key developments shaping AI features. This post Lovable AI’s Astonishing Rise: Anton Osika Reveals Startup Secrets at Bitcoin World Disrupt 2025 first appeared on BitcoinWorld.
Share
Coinstats2025/09/17 23:40
Why Banks Restrict Accounts (And What Happens Next)

Why Banks Restrict Accounts (And What Happens Next)

In a world where most financial activity happens digitally, losing access to your bank account can feel sudden and stressful. One day everything works fine, and
Share
Techbullion2026/04/03 19:40
Trump's new AG immediately put on notice by GOP rep — and warned of 'criminal' liability

Trump's new AG immediately put on notice by GOP rep — and warned of 'criminal' liability

Moments after President Donald Trump fired Attorney General Pam Bondi, Deputy Attorney General Todd Blanche was elevated to her position and named acting attorney
Share
Rawstory2026/04/03 19:20

$30,000 in PRL + 15,000 USDT

$30,000 in PRL + 15,000 USDT$30,000 in PRL + 15,000 USDT

Deposit & trade PRL to boost your rewards!