Crypto: New Gemini Release Exit From Uk, Eu, Australia, Slashes Workforce

Gemini, a US-based cryptocurrency exchange founded in 2015, will focus on growth in the United States due to its deep capital markets.

Crypto exchange Gemini announced its exit from the United Kingdom, European Union and Australia markets on Thursday, as the company slashed its workforce by 25%.

Gemini cited artificial intelligence automating labor and making engineers “100x” more efficient, and a more challenging business environment in the UK, EU and Australia, as reasons for the exit, according to Thursday’s announcement:

“We don’t have the demand in these regions to justify them. The reality is that America has the world’s greatest capital markets,” the announcement said.

The company will instead focus its resources on developing its prediction market platform, Gemini Predictions, which launched in December 2025, and building its business in the US.

The news comes at a challenging time for the crypto industry, as digital asset prices continue to bleed amid a broad market downturn that began with a flash crash in October and the stalling of the CLARITY Act, a widely anticipated US crypto market structure bill.

Related: SEC dismisses civil action against Gemini with prejudice

Gemini’s announcement highlighted the growing role of prediction markets in its strategy, which it says will be “more front-and-center” on its platform.

“Our thesis is that prediction markets will be as big or bigger than today’s capital markets,” the announcement said.

The company said it has recorded over 10,000 users on Gemini Predictions and $24 millon in trading volume since launch.

Source: CoinTelegraph