I just saw that Gemini is making a pretty aggressive adjustment to its structure. The exchange has cut around 30% of its staff since early 2026, adding to layoffs it had already made before. With only 445 employees as of March 1st, the company is clearly in restructuring mode while aiming to optimize operations with more artificial intelligence.

What’s interesting is that this isn’t an isolated case. If you look at the crypto industry in general, you see a pattern: when market conditions become tough and losses accumulate, exchanges and projects start adjusting staff. Algorand reduced its team by 25%, OP Labs cut 20 positions, and other smaller players have also made similar moves.

The context for Gemini is particular. Founded by the Winklevoss brothers, the company recently went public on Nasdaq, but the numbers are not encouraging. They reported an annual loss of $585 million, which includes unrealized losses on crypto assets. In the fourth quarter, although revenue increased nearly 40% to $60 million, losses soared to $140.8 million from $27 million the previous quarter.

What catches my attention most is the scale. Gemini operates with less than 1% of the global market share. To compare, Coinbase has nearly 5,000 employees and generates trading volumes 42 times higher. Gemini is trying to compete in a space where large platforms dominate completely, and that creates constant pressure.

Additionally, the overall crypto market has been complex. Bitcoin remains 44% below its October peak, and macroeconomic volatility is slowing trading activity. In this context, companies like Gemini don’t have much room for error. The bet on AI and operational efficiency seems to be their strategy to survive in a market where consolidation around the big players is accelerating more and more.