Gemini Announces Strategic Exit from UK, EU, and Australian Markets: What You Need to Know
Gemini, the cryptocurrency exchange led by the Winklevoss twins, will stop operating in the UK, EU (EEA), and Australia.
Quick overview
- Gemini will cease operations in the UK, EU, and Australia starting April 6, 2026, to focus on U.S. prediction markets.
- Affected users must withdraw their assets by April 6, 2026, or risk forced liquidations and loss of access to funds.
- Gemini has partnered with eToro to facilitate asset migration for users seeking a regulated platform.
- The company is undergoing a restructuring plan, Gemini 2.0, aiming for efficiency and profitability amid significant financial losses.
Gemini, the cryptocurrency exchange led by the Winklevoss twins, will stop operating in the UK, EU (EEA), and Australia. Starting April 6, 2026, the company will focus on U.S. prediction markets and aims for more stability with its “Gemini 2.0” restructuring plan.
Key Deadlines and Action Items for Affected Users
Gemini has set clear deadlines for users in these regions to move their assets. If users do not act in time, they may face forced liquidations or lose access to their funds.
- March 5, 2026: All affected accounts enter withdrawal-only mode. Trading, selling crypto for fiat, and making new deposits will be disabled.
- April 6, 2026: Final deadline for all withdrawals. Following this date, accounts will be fully closed, and access to transaction histories will be revoked.
Urgent User Requirements:
- Unstake Immediately: Users with staked assets should begin the unbonding process now to account for network delays.
- Close Perpetual Futures: All open positions must be closed before March 5 to avoid forced liquidation at prevailing market prices.
- Download Records: Ensure all transaction histories and tax statements are saved locally before April 6.
LATEST: 🇬🇧🇪🇺🇦🇺 Gemini $GEMI exits UK, Europe and Australia market. pic.twitter.com/8Jnu96ZAew
— CryptoTweets | Whale Watch (@CryptoTweetsWW) February 5, 2026
Partnership with eToro and Asset Migration
To help users transition, Gemini has partnered with eToro, a well-known social trading platform. Users can move their funds to self-custody wallets or any exchange, but eToro offers an easy option for those seeking a regulated platform.
Gemini says that verifying new bank links or withdrawal addresses may take up to seven days. Customers are encouraged to start transfers early and not wait until the last week.
Gemini 2.0: Restructuring and Financial Performance
Gemini’s exit from international markets comes as the company is making big internal changes. With Gemini 2.0, the goal is to run more efficiently and become more profitable by using AI and cutting costs.
Financial Snapshot:
| Workforce Reduction | 25% of global staff (approx. 200 employees) |
| Restructuring Costs | Estimated $11 million (pre-tax) |
| Q3 2025 Net Loss | $159.5 million ($6.67 per share) |
| Stock Impact | GEMI shares fell 5.9% following the announcement |
Strategic Pivot: From Crypto Spot Trading to Prediction Markets
Gemini is leaving these markets mainly to focus on the growing U.S. prediction markets. After closing its NFT marketplace, Nifty Gateway, on February 23, Gemini is putting more effort into event-based trading.
Since December 2025, Gemini’s U.S. prediction platform has gained 10,000 users and $24 million in trading volume. Analysts say the clear rules from the U.S. Commodity Futures Trading Commission (CFTC) make it easier to grow than in the crowded and complex UK and EU markets.
Note on fund safety: Customer funds are protected by UK and EU e-money rules, but they are not covered by deposit protection schemes such as the FSCS.
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