Gemini Trust Co., the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, is launching a prediction-market platform as it struggles to offset a $585 million annual loss.
The firm is slashing its workforce by 25% and exiting major international markets including the U.K. and European Union to shore up a balance sheet hit by a 40% slide in Bitcoin prices since its 2025 IPO.
Despite a $330 million capital injection from the founders, Gemini’s global market share has slipped below 1%, pressuring the company to find revenue beyond its core trading business.
The new offering allows users to bet on "event-based" outcomes, such as sports and macroeconomic shifts.
The strategic pivot comes as the broader crypto industry faces thinning margins and a "flight to quality," forcing smaller exchanges to diversify or consolidate.
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