Gemini Slashes 30% of Workforce After Losing $500M+ in 2025
Crypto exchange Gemini has gutted nearly a third of its staff since January, with massive losses piling up.
Gemini is bleeding. The crypto exchange has cut roughly 30% of its workforce since the beginning of 2026, leaving it with just 445 employees as of March 1, according to a shareholder letter reported by Bloomberg.
The downsizing follows a brutal 2025, during which Gemini — operating under the formal name Gemini Space Station Inc. — racked up losses exceeding $500 million.
The layoffs have been rolling rather than a single event, with multiple rounds of cuts chipping away at headcount through the early months of the year. For a company that once rode crypto's highs, the sustained contraction signals deep financial pressure.
At 445 people, Gemini is now running a significantly leaner operation. Whether that's enough to stop the hemorrhaging remains to be seen.