# Gemini Retreats Overseas, Slashes 25% of Workforce

*Author: Jack Inabinet*
*Published: Feb 5, 2026*
*Source: https://www.bankless.com/read/news/gemini-retreats-overseas-slashes-25-of-workforce*

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Gemini Space Station Inc. (NASDAQ: GEMI) – the crypto exchange founded by twin billionaires Cameron and Tyler Winklevoss – is cutting a quarter of its workforce and winding down its global operations in an effort to increase productivity and manage costs. 

## What's the Scoop?
- **Organizational Earthquake:** According to a Gemini [press release](https://www.gemini.com/en-GB/blog/gemini-2-0-a-bridge-to-the-future-of-money-and-markets), roughly 25% of the crypto exchange's workforce was fired today, with layoffs impacting staff stationed across Europe, the United States, and Singapore. This most recent round of forced separations at Gemini follows a 50% in headcount from 2022 to 2025. In addition to the headcount reduction, Gemini also announced that it would wind down operations in the UK, EU, and Australia.
- **Just Accelerate: **Despite the potentially negative connotation of layoffs, the Winklevoss twins [outline](https://www.gemini.com/en-GB/blog/gemini-2-0-a-bridge-to-the-future-of-money-and-markets) an optimistic vision where reduced team sizes and increased AI utilization at Gemini will boost worker productivity. They also touted the early successes of Gemini Predictions, which has handled a relatively meager $24M in volume since launching in December.
- **Stock Slide:** GEMI stock was hammered today in sympathy with broader crypto market weakness. The stock had fallen 7% from its prior close one hour before the end of U.S. trading, increasing the GEMI's post-IPO drawdown to more than 85%. 

> A message on [@Gemini](https://twitter.com/Gemini?ref_src=twsrc%5Etfw) 2.0 — AI, prediction markets, and focus.[https://t.co/aObX0u5N7U](https://t.co/aObX0u5N7U)— Cameron Winklevoss (@cameron) [February 5, 2026](https://twitter.com/cameron/status/2019421311232258295?ref_src=twsrc%5Etfw)