TL;DR:
- Winklevoss Capital lowered its Bitcoin publicity from round 23,000 BTC in February 2025 to lower than 11,000 BTC in February 2026.
- Gemini initiatives working bills of between $520 and $530 million for 2025, almost double the earlier yr, with web revenues of between $165 and $175 million.
- The alternate reduce 1 / 4 of its workforce, exited the UK, the EU and Australia, and misplaced three key executives in lower than two weeks.
Tyler Winklevoss, co-founder of Gemini, mentioned he feels “optimistic” about what he described as a peak of pessimism within the crypto market. Nevertheless, the accessible knowledge paints a significantly grimmer image: sustained Bitcoin gross sales from his funding agency, a deep restructuring on the alternate he runs alongside his brother Cameron Winklevoss, and a pointy drop in market share.
In response to onchain information analyzed by Arkham, the Winklevoss Capital pockets lowered its Bitcoin holdings from roughly 23,000 BTC in February 2025 to much less than 11,000 BTC in February 2026. The divestment have to be framed inside an antagonistic market: spot Bitcoin ETFs in america have amassed 5 consecutive weeks of capital outflows, the Crypto Worry & Greed Index sits at excessive worry ranges, and Google searches for “Bitcoin going to zero” reached their highest level since 2022.
Gemini Cornered by Its Personal Numbers
Gemini’s most up-to-date submitting with the Securities and Trade Fee (SEC), registered on Tuesday, initiatives web revenues of between $165 and $175 million for 2025, up from $141 million in 2024. Working bills, nevertheless, would climb to between $520 and $530 million, almost double the $308 million of the earlier yr. The variety of month-to-month lively customers stands at round 600,000, up 17% from the earlier yr, though its spot market share fell from 0.6% in June 2025 to 0.1% in January 2026, in accordance with Bloomberg. The corporate’s valuation dropped from almost $4 billion to lower than $700 million since its public itemizing.
Earlier this month, the corporate introduced the layoff of as much as 1 / 4 of its employees and the withdrawal from operations in the UK, the European Union and Australia to pay attention extra sources in america and Singapore. Lower than two weeks later, Gemini parted methods with its chief working officer, chief monetary officer and chief authorized officer. Cameron Winklevoss absorbed a part of the outgoing COO’s obligations, whereas interim executives took on the opposite positions.
The Winklevosses Transfer Into Prediction Markets
Bloomberg reported that the corporate is now concentrating on a prediction markets platform regulated by the Commodity Futures Buying and selling Fee (CFTC), along with custody companies and bank cards.
