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Gemini increases layoffs as losses increase despite higher Q4 revenue.
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Gemini has restructured its UK, EU and Australia operations.
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AI adoption accelerates job cuts as Crypto.com trims positions to align with automation strategies
Crypto firms are cutting headcounts as financial pressures and operational restructuring reshapes the sector. Recent disclosures from major exchanges point to continued workforce adjustments tied with cost controls and technological adoption.
Gemini, the crypto exchange, has reduced its staff by around 30% since the beginning of the year. This brings the total number of employees to about 445. The reductions went beyond the 25% reduction announced earlier, with additional layoffs of U.S. based staff.
The company reported a net loss of about $585 million in 2025, which includes unrealized losses related to crypto asset valuations. In the fourth quarter of 2018, revenue reached $60 million, surpassing analyst expectations by $50.6 million. This represents a 40% increase year-over-year. The losses increased with a quarterly loss of $140.8m compared to $27m in the same period in 2024.
Gemini implemented structural changes along with the layoffs. The company ceased operations in the United Kingdom and Australia. Several senior executives including the chief financial officer, chief operating officer and chief legal officers left the company.
Gemini also introduced artificial intelligence tools to improve efficiency, positioning automation within its operational strategy.
AI integration, cost pressure and industry cuts
AI integration, cost pressure and industry cuts
Separately Crypto.com confirmed that it had reduced its workforce by approximately 12%. This affected around 180 employees, based on an earlier reported headcount of over 1,500. The company attributed the move to an overall shift towards enterprise-wide integration of artificial intelligence, which targeted roles that did not align with the new operating model.
This is the third round of layoffs for Crypto.com since 2022. Earlier reductions include a 5% reduction in the workforce during a macroeconomic slowdown and a 20% reduction after the collapse of FTX 2023.
Layoffs follow earlier Restructuring cycles
Layoffs follow earlier Restructuring cycles
The latest job cuts are in line with a pattern established during previous market disruptions. Gemini laid off employees in multiple rounds between 2022 and 2023, including reductions as high as 10% and 7%. The company cited macroeconomic challenges, industry disruptions and the bankruptcy of Genesis as reasons for the layoffs. This incident affected approximately $900,000,000 in customer funds linked to the Gemini Earn Program.
Many firms in the industry also reduced their workforces by significant amounts during this period. Exchanges like Coinbase, Huobi and Crypto.com reduced their headcount by about 20% each. Blockchain.com, OSL and other exchanges reported reductions of around 30%.
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