Gemini Business Restructuring: Challenges and Strategies
Gemini exchange strategically reorients amid market downturn, with analysis of current position and prospects.
Table of content
Cryptocurrency exchange Gemini, managed by the Winklevoss twins, is facing challenges amid a market downturn. The business restructuring initiated in response to these challenges is an ambitious project that requires time and resources. A Bloomberg writer emphasizes its importance for the company’s survival.
IPO History and Current Financial Difficulties
In September 2025, Gemini successfully went public on Nasdaq through an IPO (initial public offering), issuing 15.18 million Class A shares at $28 each, exceeding the initial price range. However, the capitalization, having peaked at $4 billion, dropped sharply to just $661.5 million, representing a decrease of nearly 85%.
Staff Reductions and Leadership Changes
Amid declining revenues, Gemini was forced to lay off 25% of its employees and exit markets in the UK, EU, and Australia. Additionally, a number of leadership changes occurred, including the resignation of the COO and other key figures.
Strategy and New Business Directions
The Winklevoss brothers announced new strategies, including developing platforms for prediction markets, custodial services, and credit cards. The US and Singapore remain priority regions. An important change was the integration of COO duties by Cameron Winklevoss.
Financial Risks and Internal Resources
Gemini reports that the expected net revenue for 2025 was $175 million against a cost backdrop of $530 million. The $425 million raised from the IPO appears insufficient for the company’s growth. Nevertheless, the Winklevosses possess personal crypto assets that can support the reorganization and have been used in the past.
Conclusion
The situation surrounding Gemini highlights the difficulties faced by crypto exchanges seeking to double down on their successes. Management must adapt to new conditions:
- Strengths: Experience and presence in key markets.
- Risks: Market share reduction and financial pressure.
- Opportunities: New business directions and leveraging internal resources.
- Threats: Sector competition and negative investor sentiment.
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