Gemini Cuts Workforce and Exits International Markets for Profitability

Gemini, the public crypto exchange, is trimming its workforce by 25% while ceasing operations in Europe and Australia to enhance profitability.

Gemini, a publicly traded cryptocurrency exchange, is shifting its strategy by exiting international markets, including Europe and Australia. This decision comes alongside a substantial workforce reduction, with approximately 25% of its employees facing layoffs as the company seeks to enhance its profitability.

The move to withdraw from foreign markets signifies a pivotal shift in Gemini's operational focus, reflecting the ongoing challenges faced within the cryptocurrency sector. By streamlining its staff and concentrating on more profitable areas, Gemini aims to solidify its financial standing in a highly competitive landscape.