Key Takeaways
- The Big Shrink: Gemini is closing its offices in the UK, Europe, and Australia to focus almost entirely on the United States.
- A New Way to Trade: They are shifting away from just buying and selling coins and moving toward “prediction markets” where people bet on the outcome of real-world events.
- Money Matters: The company’s total value has dropped by over 80% in the last year, falling from $4 billion to roughly $650 million.
- Leadership Change: Three of the company’s top bosses left in a single day, leaving Cameron Winklevoss to take over more of the daily work.
The 2026 “Big Reset” for the Winklevoss twins’ company, Gemini, is essentially a survival plan. After a tough year where their profits and stock price dropped significantly, the billionaire brothers decided to shrink their business to save money. They are closing their offices in places like the UK and Australia to focus on new, smaller projects in the U.S. that they believe will become the future of how we use and trade money.
The crypto world has seen a lot of ups and downs, but 2026 is a massive turning point for Gemini. This company, started by the famous Winklevoss twins, is going through a “reset” to stay afloat. Here is exactly what is changing and why it matters for you.
1. Focusing on Home Base (The U.S.)
Gemini used to have offices all over the world, including London and Sydney. However, it is very expensive to follow different laws in every country. To save money, Gemini is closing its doors in the UK, Europe, and Australia by April 2026. They are moving all their energy back to the United States and a small hub in Singapore.
2. A Massive Drop in Value
The company’s total value has taken a giant hit. Just one year ago, the company was worth $4 billion. Today, that value has dropped by over 80%, leaving the company worth less than $700 million. This happened because fewer people are trading crypto, which means Gemini is making much less money from fees.
3. A Smaller, Leaner Team
To keep the company running, Gemini had to make the difficult choice to let go of many employees. They cut about 25% of their staff, which is roughly 200 people. On top of that, three of the company’s biggest bosses (the COO, CFO, and top lawyer) all left the company on the same day in February. Now, Cameron Winklevoss is doing much of that work himself.
4. Betting on the “Future of Betting”
Instead of just being a place to buy Bitcoin, the twins are betting big on Gemini Predictions. This is a new platform where you can trade based on what you think will happen in the world, like who will win an election or if a certain movie will be a hit. They believe this “event betting” will eventually be bigger than the regular stock market.
5. Paying Back Every Penny
Despite all the bad news, Gemini did something very important for its users. They successfully finished paying back customers from their “Earn” program. They returned 100% of the digital assets that were previously locked up. This has helped them keep the trust of their fans even during this “reset.”
Why is Gemini “Resetting” Right Now?
To understand why the twins are changing things, you have to look at the tough year they just had. When Gemini joined the stock market in late 2025, things looked great. But soon after, the price of Bitcoin and other digital coins started to drop.
When crypto prices go down, people trade less. Since Gemini makes most of its money from trading fees, its bank account started to take a hit. By February 2026, the company realized it was “stretched too thin.” It was spending too much money trying to win customers in London and Sydney while its main business in the U.S. was struggling.
To fix this, they decided to:
- Cut Costs: They let go of about 25% of their workers (around 200 people).
- Go Home: They are shutting down their international branches to save on expensive rent and foreign legal fees.
- Simplify: Instead of trying to be everything to everyone, they want to be the best at a few specific things in the U.S. market.
The New Bet: Prediction Markets
The most exciting part of this reset is a new platform called Gemini Predictions.
Think of this like a digital crystal ball where you can put money on what you think will happen in the future. Instead of just betting on if a coin price goes up, you can trade based on questions like:
- ”Who will win the next big election?”
- ”Will the price of gas go down next month?”
- ”Will a certain movie win an Oscar?”
The Winklevoss twins believe these “event bets” are actually more useful than regular trading because they help people manage risk in their real lives. Even though other companies are already doing this, Gemini is the first big, regulated U.S. company to make it a main part of their business.
Is the Company in Trouble?
It depends on how you look at it. On one hand, the numbers are scary. The company’s stock price (which trades under the name GEMI) fell from over $40 to around $6.50 in just a few months. Having your Chief Financial Officer and Chief Operating Officer leave at the same time is also usually a sign of stress.
On the other hand, the twins have a history of being “bullish” which is a fancy way of saying they stay positive even when things look bad. Tyler Winklevoss recently said that when everyone else is worried, that’s actually the best time to build something new.
They also reached a huge milestone by finishing their “Earn” program payments. For years, some customers had their money locked up due to a legal fight. As of early 2026, Gemini has successfully returned 100% of those assets to its users. This has helped them keep the trust of many long-time customers.
What This Means for You
If you use Gemini in the U.S., not much will change for your day-to-day trading. However, if you live in the UK or Europe, you’ll likely have to move your money to a different platform by April 2026.
The “New Gemini” is trying to become a leaner, more focused company. Instead of being a giant global bank, they are becoming a specialized U.S. shop for people who want to trade in the future.
Frequently Asked Questions
Why did the top bosses leave Gemini?
The company hasn’t given a specific reason, but it happened right as they decided to close their international offices. Many experts believe the company is simply changing its management style to fit its smaller size.
What happens to my money if I live in the UK or Europe?
Gemini has moved these accounts into “withdrawal-only” mode. This means you can’t buy new coins, but you can safely move your existing money out to a different wallet or bank account before the final closing date in April.
How does a prediction market work?
You buy “shares” in an outcome. If you bet $0.60 that a team will win and they do, your share becomes worth $1.00. If they lose, it becomes worth zero. It’s a way of using the “wisdom of the crowd” to guess what will happen next.
Are the Winklevoss twins still rich?
Yes. While Gemini the company has lost value, the twins still own a massive amount of Bitcoin personally. They are using their own wealth and confidence to keep the company moving forward.
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