Cryptocurrency exchange Gemini has announced plans to lay off up to 25% of its workforce and exit markets in the UK, EU, and Australia. The company has also reduced its U.S. staff, with the departures of its COO, CFO, and CLO linked to cost-cutting measures. In January, Gemini's global spot trading market share fell to 0.1%, down from 0.6% in June of the previous year. Despite a 70% increase in expenses last year, net revenue only grew by 17%. The international markets Gemini is exiting contributed approximately 15% of its revenue in the first nine months of 2025. Gemini is shifting its focus to prediction markets, having launched a platform in December after receiving a CFTC license. However, the platform's cumulative trading volume remains modest at around $24 million.