Gemini's Market Share Plummets Amid Restructuring Efforts

Gemini, one of the largest cryptocurrency exchanges in the US, has been experiencing significant challenges in recent months. Its market share has plummeted to around 0.1% of global spot crypto trading in January, down from 0.6% in June 2025.

The company's struggles have led to a sharp reset, with Gemini announcing that it would cut up to a quarter of its staff and exit the UK, EU, and Australia markets. This move is part of a strategic pivot towards a new Commodity Futures Trading Commission (CFTC) regulated prediction markets platform and custody services.

Gemini's co-founder Tyler Winklevoss has expressed his optimism about the crypto market despite these challenges. However, onchain trackers reveal that Winklevoss Capital has been steadily selling Bitcoin for the last 12 months, reducing its exposure from around 23,000 BTC in February 2025 to under 11,000 BTC in February 2026.