Gemini Restructures Amid Bitcoin Price Decline, Shifts Focus to Prediction Markets

Gemini, a prominent cryptocurrency exchange, has undergone significant restructuring in response to Bitcoin's recent price decline. The company has implemented cost-cutting measures, including reducing its workforce by up to 25%, and scaled back international operations by exiting the UK, EU, and Australia.

These moves reflect the challenges crypto exchanges face during market contractions, where reduced trading volumes and lower revenue streams can make it difficult to sustain costly operations. Gemini's restructuring is part of a broader industry trend, with other digital asset firms also recalibrating their strategies in response to prolonged volatility.

In an effort to diversify its revenue streams and adapt to evolving investor behavior, Gemini has pivoted towards prediction markets. This segment allows participants to trade contracts tied to the probability of future events, offering a new source of revenue that is less directly correlated with cryptocurrency price swings.