Gemini Exchange Exits UK, EU, and Australia, Cuts 25% of Staff to Focus on US Market and Prediction Platforms

Major cryptocurrency exchange Gemini is undergoing a significant strategic shift. The company announced its decision to exit the United Kingdom, European Union, and Australian markets. As part of this global restructuring, Gemini will reduce its workforce by approximately 25%. The firm's renewed strategy will concentrate its resources on core operations within the United States and the development of its prediction markets platform. This move highlights the increasing regulatory and operational challenges crypto businesses face in multiple international jurisdictions, prompting a consolidation towards more defined markets.