Gemini layoffs — Mar 10, 2026

Gemini Cuts 30% of Workforce Amid $582M Losses on March 10, 2026

Gemini, the cryptocurrency exchange led by the Winklevoss twins, announced on March 10, 2026, that it has reduced its workforce by approximately 30%. This significant layoff comes in response to the company's reported net loss of $582.81 million for the year 2025, alongside a declining market share that has fallen below 1% compared to competitors like Coinbase.

The decision to cut jobs was framed as part of a broader restructuring effort aimed at optimizing efficiency and focusing on core business areas. According to reports, the exchange is prioritizing advancements in artificial intelligence and streamlining operations to maintain service quality while operating with a leaner team. The layoffs reflect a trend across the cryptocurrency sector, where companies are adjusting their workforce in light of challenging market conditions.

Gemini's struggles have been exacerbated by a significant drop in Bitcoin prices, which have plummeted from around $115,000 at the time of Gemini's IPO in September 2025 to approximately $60,000. This decline has adversely affected trading volumes and overall revenues, prompting the company to pivot its focus towards the U.S. market while exiting less profitable regions, including the UK, EU, and Australia.

In addition to its trading platform, Gemini is exploring new revenue streams, including a credit card service that has seen substantial growth, with portfolio balances reaching $21.8 million by Q4 2025. The company has also launched a forecasting platform that has attracted over 15,000 users since its introduction in December 2025. Tyler Winklevoss has indicated that these initiatives are part of the company's strategy to navigate the current market challenges and build a more stable future.

Sources: Coinpedia Fintech News, Google News