Reviewed by Gotrade Internal Analyst
Gotrade News - Gemini, the crypto trading platform founded by Tyler and Cameron Winklevoss, just laid off even more staff over the past few days. This latest round comes on top of the 25% workforce cut announced in early February 2026, while the company's valuation has already cratered over 80% since going public last year.
According to a Bloomberg report on Sunday (02/22), these additional layoffs hit just days after three of Gemini's top executives resigned simultaneously. The company's Chief Operating Officer, Chief Financial Officer, and Chief Legal Officer all walked out on the same day.
Key Takeaways
- Gemini's valuation dropped from roughly $4 billion to under $700 million since its IPO last year
- Three C-suite executives left on the same day, prompting analyst concerns about the company's solvency
- Gemini is pulling out of the UK, EU, and Australia to pivot toward prediction markets and the US
Gemini's stock plunging over 80% paints a rough picture of how hard the crypto downturn has hit the business. The company's market cap shrank from around $4 billion to less than $700 million, according to data cited by Bloomberg.
Truist Securities analyst Matthew Coad flagged the triple executive departure as a potential red flag for investor confidence. In his note, Coad warned that more investors could start questioning Gemini's solvency going forward.
Coad, along with fellow analysts Lucas Ramadan and Cameron MacLeod, laid out the core issue pretty bluntly. They argued that Gemini's management made a massive bet on the crypto bull run lasting through 2027, but crypto asset prices nosedived instead.
The financial strain also shows up clearly in Gemini's latest numbers. Based on a securities filing cited by Bloomberg, the company's expenses surged roughly 70% last year while net revenues only grew by 17%.
A New Playbook Under Pressure
Gemini announced its 25% staff cut on February 5, 2026, alongside a decision to exit the UK, EU, and Australian markets. The company is now funneling its resources into prediction markets and US-focused operations.
Tyler and Cameron Winklevoss laid out the rationale in an official blog post. The twins said this consolidation would speed up their path to profitability even against the backdrop of a weak crypto market.
One of Gemini's fresh bets is Gemini Predictions, a prediction market platform that launched last December. According to the company, the platform has already pulled in over 10,000 users who have traded more than $24 million.
What This Signals for the Broader Crypto Space
Gemini's struggles are not an isolated case in today's bruised crypto landscape. Other publicly traded crypto firms like Coinbase are also navigating a market full of uncertainty.
On the flip side, the stablecoin industry is actually heading in a different direction. According to a PYMNTS report, banks, fintechs, and global payment providers are steadily integrating stablecoins into their payments and treasury infrastructure.
This momentum has been described as an "infrastructure-before-adoption" phase, where the groundwork for mainstream growth is already being built. Adoption is still early and risks are still up for debate, but the technical foundation keeps expanding.
For crypto market participants, Gemini's situation is a stark reminder that aggressive expansion can backfire fast when the market cycle flips. The big question now is whether this consolidation will be enough to restore investor confidence before liquidity pressure gets any worse.
That’s the market update worth watching today. Follow Gotrade News for timely coverage on US stocks, ETFs, and macro moves that shape market direction. For a structured starter guide, visit the Gotrade Blog to learn the basics and build your plan.
If you want to act on this news, track price moves and review your portfolio in the Gotrade app. You can start investing in US stocks and ETFs with $1, then align your next steps with your goals and risk profile. Download and open the Gotrade app now!
Reference:
-
PYMNTS, Gemini Cuts More Staff as Crypto Firm’s Valuation Plunges 82%. Accessed on February 23, 2026
-
Featured Image: Shutterstock
