Gemini to exit UK, EU and Australia as it refocuses on U.S. market

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Andrey Mastykin

06.02.2026

Gemini to exit UK, EU and Australia as it refocuses on U.S. market — Gemini focuses on the United States.

Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, announced plans to shut down operations in the United Kingdom, the European Union and Australia, marking a major strategic retrenchment as the company seeks profitability amid a prolonged crypto market slowdown.

Highlights

Gemini will exit UK, EU and Australia by April 2026, moving accounts to withdrawal-only mode in March.
The company will cut 25% of staff and focus on AI efficiency and prediction markets.
Gemini is pivoting toward a US-first strategy to accelerate profitability.

The decision underscores growing pressure on global crypto platforms facing weaker demand outside the United States, tighter regulation, and a sharp decline in trading activity across international markets.

Wind-down timeline and customer impact

Gemini said customer accounts in the affected regions will enter withdrawal-only mode on March 5, 2026, preventing any new trading or purchases, with full account closures scheduled for April 6, 2026. Users were advised to cancel recurring purchases, avoid new deposits, and begin unstaking crypto assets immediately. Customers with open perpetual futures positions were warned they must close them before the withdrawal-only phase or risk forced liquidation at market prices.

The company cautioned that withdrawals may take time due to verification and approval processes, noting that adding a new crypto withdrawal address can take up to seven days. Gemini also urged users to download transaction histories before access is removed. While funds used for payment services are safeguarded under UK and EU e-money regulations, the company emphasized they are not protected by deposit insurance schemes such as the FSCS.

To ease the transition, Gemini partnered with eToro, offering some users incentives to transfer assets, though customers may also withdraw to self-custody wallets or bank accounts. The exit follows Gemini’s decision to shut down its NFT marketplace Nifty Gateway on February 23 after a prolonged collapse in NFT trading volumes.

Gemini 2.0: AI, layoffs and a U.S.-first strategy

The regional exit coincides with a broader restructuring under the company’s “Gemini 2.0” strategy. In a statement, the company said rapid advances in artificial intelligence have reshaped how it operates, arguing that “AI has completely changed the game” and that a “smaller organization, leveraging the right tools, isn’t just more efficient, it’s actually faster.” Gemini plans to cut roughly 25% of its global workforce, reducing headcount by about 200 employees, with restructuring costs estimated at $11 million.

Gemini is also narrowing its focus to prediction markets, which it believes “will be as big or bigger than today’s capital markets.” Since launching Gemini Predictions in mid-December, the platform has attracted more than 10,000 users and over $24 million in trading volume. The company said exiting overseas markets will help it “double down on America” and accelerate its path to profitability.

Conclusion

Gemini’s withdrawal from the UK, EU and Australia highlights the growing divide between U.S. and international crypto markets. The company is betting that AI-driven efficiency and prediction markets can offset shrinking global demand. Its future now rests squarely on execution in the United States.

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