Gemini Expands Layoffs Again as Valuation Plunges 82% and Senior Executives Exit
Gemini, founded by Cameron and Tyler Winklevoss, is one of the major U.S. cryptocurrency exchanges and was valued at $4 billion in a 2021 funding round. Its valuation has now fallen by more than 80%, reflecting competitive and operational pressures in the crypto market and prompting renewed scrutiny of its financial position and long-term solvency.
Gemini was reported in July 2026 to be expanding its layoffs beyond a previously planned workforce reduction of about 25%. The company’s valuation has fallen 82%, from $4 billion to less than $700 million. The turmoil has also seen key senior executives, including its chief operating officer and chief financial officer, leave in succession, deepening market concerns about the company’s outlook.
All Coverage
1 original reportsThe Backstory
The history behind this eventGemini's Troubles Deepen as Winklevoss Capital Slashes Bitcoin Holdings
Gemini, co-founded by Tyler and Cameron Winklevoss, has come under pressure in recent years from rising operating expenses, layoffs and its withdrawal from multiple international markets. Although the brothers have continued to publicly express confidence in Bitcoin, the contrast between the exchange's difficulties and their family investment firm's shrinking holdings has become an important signal for investors assessing their financial position.
Recent reports said the Winklevoss brothers sold about $130 million in Bitcoin. On-chain data also showed that, over the year leading up to July 2026, Winklevoss Capital's holdings fell from about 23,000 BTC to fewer than 11,000 BTC. Compared with its previous holdings of about 108,000 BTC, the current position is only about 8% of its peak.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.