The company announced plans to exit several international markets and reduce its workforce by 25%.
- Gemini Space Station will wind down operations in the U.K., the EU, other European jurisdictions, and Australia.
- The firm expects to cut up to 200 jobs globally.
- Gemini estimates it will incur roughly $11 million in pre-tax restructuring charges, largely in cash.
Shares of Gemini Space Station Inc. (GEMI) slumped to a record low on Thursday after the company announced plans to exit several international markets and reduce its workforce as part of a broader push toward profitability.
In a filing with the U.S. Securities and Exchange Commission, Gemini said that it will wind down operations in the United Kingdom, the European Union (EU), other European jurisdictions, and Australia, while continuing to operate in the United States and Singapore.
“These foreign markets have proven hard to win in for various reasons, and we find ourselves stretched thin with a level of organizational and operational complexity that drives our cost structure up and slows us down. And we don’t have the demand in these regions to justify them,” the company stated in a blog post.
Gemini To Lay Off 25% Work Force
As part of the restructuring, Gemini expects to cut up to 200 jobs globally or around 25% of its workforce as of early February. The layoffs will impact employees across Europe, the U.S., and Singapore.
Gemini described the restructuring as “a broader initiative to reduce operating expenses and support the company’s path to profitability.” The company aims to complete most of the job reductions and regional exits in the first half of 2026.
Gemini estimates it will incur roughly $11 million in pre-tax restructuring charges, largely in cash, with most of the expenses expected to be recognized in the first quarter of 2026. These costs are expected to cover severance payments, employee benefits, notice pay, facility exit charges, contract terminations, and professional fees, the company added.
Gemini Space Station, a mobile and web-based crypto asset exchange platform, was founded by the Winklevoss twins, Tyler and Cameron, in 2014 and listed on the Nasdaq Global Select Market on Sept. 12, 2025. GEMI shares have plummeted more than 75% over its IPO price of $28.
How Did Stocktwits Users React?
Despite the intraday slump, retail sentiment on Stocktwits remained ‘bullish’ over the past 24 hours, amid ‘high’ message volumes.
One user noted accumulation amid low volumes.
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