Gemini Exits UK, EU and Australia, Announces Major Job Cuts
Crypto exchange Gemini is pulling back from several international markets and cutting staff again as it reshapes its business around artificial intelligence and prediction markets, according to an official company announcement.
Key Тakeaways
- Gemini will exit the UK, EU and Australian markets as part of a strategic refocus on the US
- The company is cutting its workforce by about 25%, continuing a multi-year downsizing driven by AI adoption
- Prediction markets are becoming a central pillar of Gemini’s long-term strategy, with early user traction already reported
The firm said it will exit the UK, European Union and Australian markets, while reducing its global workforce by roughly 25%. The move marks another major contraction following a steep downsizing over the past three years, as Gemini refocuses almost entirely on the US.
AI reshapes Gemini’s operating model
Gemini said rapid advances in AI have fundamentally changed how work gets done across the company. Tasks that once required large teams can now be handled by far fewer people using AI-assisted workflows, dramatically increasing productivity not only for engineers but across non-technical roles as well.
The company noted that its headcount peaked at around 1,100 employees in 2022. By the end of 2025, that number had already fallen to roughly half. The latest 25% reduction is intended to align staffing with what Gemini described as the “right size” for its evolving mission, emphasizing speed, efficiency and lower costs.
Prediction markets take center stage
Alongside AI, Gemini is betting heavily on prediction markets as its next major growth engine. The company argued that prediction markets could become as large as, or larger than, today’s capital markets by harnessing crowd-based insights about future events.
Gemini said its newly launched Gemini Predictions product is already gaining traction. Since launching in mid-December, more than 10,000 users have traded over $24 million on the platform. Management described prediction markets as a core feature of a future “super app,” positioning them as a central tool for forecasting outcomes across markets.
US focus drives international exit
Gemini acknowledged that operating in more than 60 countries has added significant complexity and costs, while demand in several regions failed to meet expectations. According to the company, international markets outside the US have proven difficult to scale profitably.
As a result, Gemini plans to double down on the US, which it called the world’s deepest and most attractive capital market. Exiting the UK, EU and Australia is expected to reduce expenses in line with the workforce cuts and accelerate the company’s path to profitability, even amid ongoing weakness in the broader crypto market.
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Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
