Gemini Exits UK, EU and Australia; Cuts 25% Staff to Focus on US, AI and Prediction Markets
Gemini will exit the UK, EU and Australia, placing affected accounts in withdrawal-only mode from March 5, 2026 and fully ending services by April 6, 2026. The exchange is cutting roughly 25% of staff (about 200 roles) and says AI-driven automation raised engineer productivity, reducing the need for large regional teams. Gemini cited high overseas compliance costs, weak regional demand and multi-jurisdiction complexity as reasons for withdrawal. The firm will partner with eToro to help customers transfer assets and will reallocate resources to US operations and its prediction-market product, Gemini Predictions (launched December 2025), which has recorded over $24m traded by more than 10,000 users. Executives said the move follows Gemini’s September 2025 Nasdaq IPO and aims to simplify operations, accelerate profitability and leverage AI efficiencies. Key trading-relevant facts: exit dates (Mar 5–Apr 6, 2026), ~25% headcount reduction (~200 employees), eToro partnership for asset transfers, renewed focus on US products and Gemini Predictions, and AI efficiency cited as a primary driver.
Neutral
The announcement is unlikely to directly move the price of Gemini’s native listing (if any) or market-wide crypto prices. The news is primarily operational: regional withdrawal, workforce reduction (~25%), and a refocus on US products and prediction markets. Short-term: localized selling or withdrawal flows could create minor liquidity shifts for assets held on Gemini’s regional rails, but the eToro partnership and clear wind-down dates reduce disorderly exits and systemic risk. Long-term: concentrating resources on the US and AI-driven products could improve Gemini’s profitability and product focus, which may be positive for the exchange’s business prospects but does not directly translate into bullish pressure on a specific token. Overall, impact on tradable crypto prices is neutral — traders should monitor on-chain outflows from Gemini wallets, changes in orderbook depth on affected pairs, and any announcements about asset delistings or forced liquidations that could create short-term volatility.