Tyler Winklevoss ‘Optimistic’ as Gemini Cuts Jobs and Sells BTC

Gemini co-founder Tyler Winklevoss says crypto sentiment is so unhealthy he’s “optimistic,” despite the fact that the alternate he runs together with his brother Cameron is pressured into a pointy reset and Winklevoss Capital seems to have been steadily promoting Bitcoin for the final 12 months.

Regardless of his public bullish sentiment, onchain trackers together with Arkham reveal that the Winklevoss Capital pockets has been lowering its Bitcoin (BTC) publicity over the previous yr, from about 23,000 BTC in February 2025 to fewer than 11,000 BTC in February 2026.

Gemini’s newest filing with the US Securities and Alternate Fee (SEC) on Tuesday confirmed that it anticipated internet income of between $165 million and $175 million for 2025, up from $141 million in 2024, with about 600,000 month-to-month transacting customers, a 17% yr‑on‑yr improve.

On the identical time, projected working bills have soared to between $520 million and $530 million, versus $308 million a yr earlier.

Associated: Crypto investors’ interest moves ‘pretty wide’ beyond majors as dip drags: Exec

On Feb. 5, Gemini introduced that it might minimize as much as 1 / 4 of its workers, exiting the United Kingdom, European Union and Australia to focus on the US and Singapore markets.

Lower than two weeks later, the company parted ways with its chief working officer, chief monetary officer and chief authorized officer, saying that Cameron Winkelvoss could be taking over extra tasks.

Shrinking market share and strategic pivot

In line with a Sunday report by Bloomberg, Gemini’s spot market share shrank to round 0.1% of worldwide spot crypto buying and selling in January, down from 0.6% in June 2025, and its market worth has fallen from virtually $4 billion to below $700 million since final yr’s public itemizing.

Citing folks aware of the matter, Bloomberg reported that Gemini had let go of further US workers and was now targeted on a pivot towards a brand new Commodity Futures Buying and selling Fee (CFTC) regulated prediction markets platform, and custody and bank card providers.

The corporate’s 8‑Ok submitting confirmed the senior management shakeup and famous that Cameron Winklevoss would take up lots of the outgoing chief working officer’s duties, whereas interim executives step into the chief monetary officer and normal counsel roles.

Cointelegraph reached out to Gemini to substantiate the reported further layoffs, strategic pivot and BTC gross sales, however had not acquired a response by publication.

Bleak market sentiment piles on strain

Gemini’s restructuring comes in opposition to a backdrop of unusually bleak sentiment throughout the crypto market. 

Miners such as Bitdeer have liquidated their BTC treasuries, US-based spot Bitcoin ETFs have bled for the previous 5 weeks and standard sentiment gauges just like the Crypto Fear & Greed Index have sunk to excessive worry ranges, coinciding with Google searches for “Bitcoin going to zero” being at their highest since 2022.

Associated: Gemini exit a ‘blow for policymakers’ with UK crypto hub ambitions

A handful of excessive‑profile buyers stay lengthy Bitcoin, nonetheless, together with Japan’s Metaplanet, which has repeatedly doubled down on its BTC accumulation strategy regardless of market circumstances, and US Bitcoin treasury pioneer Technique, the most important publicly listed proprietor of BTC at 717,131, which hinted at its 100th Bitcoin buy on Sunday. 

Excessive-frequency dealer and BitMEX co-founder Arthur Hayes additionally posted his portfolio on Monday. He stays closely weighted towards BTC alongside gold, oil and different belongings, whereas macro analysts such as Lyn Alden remain long but expect a grinding market quite than a pointy rally within the close to time period.

Journal: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder