Gemini to scale back international operations, leaving the U.K., EU, and Australia, while reducing staff by a quarter and prioritizing the U.S. and prediction markets

Gemini Space Station Inc. (GEMI) is pulling out of the U.K., European Union, and Australia while cutting 25% of its workforce, signaling a strategic shift to focus on U.S. operations and prediction markets.

In a Thursday blog post, the New York-based crypto exchange outlined its offboarding plan. Customers in the affected regions are being asked to sign up with brokerage platform eToro by the end of March to transfer their assets. New account creation and deposits have been suspended, and full account closures are scheduled for April.

“Effective 6 April 2026, Gemini will be ceasing operations in the United Kingdom,” the company said in an email to customers reviewed by CoinDesk. Accounts will enter withdrawal mode starting 5 March 2026, with eToro assisting in the transfer process.

Co-founders Tyler and Cameron Winklevoss cited difficulty gaining traction outside the U.S. as the reason for the pullback. “America has the world’s greatest capital markets and has always been where it’s at for Gemini,” they said. “It’s time to focus and double down on America.”

The founders also highlighted Gemini’s pivot toward prediction markets, a sector they believe could rival traditional capital markets. Since the mid-December launch of Gemini Predictions, more than 10,000 users have traded over $24 million. Gemini said securing a license to launch its own prediction marketplace positions the firm as an early mover in the space.

The move comes amid broader weakness in crypto-linked equities. While major stock indices have gained in early 2026, leading digital-asset stocks have declined, reflecting lower investor appetite and tighter liquidity. Gemini, which went public in September, has seen its shares fall roughly 23% since the start of 2025, including a 2.8% drop Thursday.