The post Gemini Layoffs 2026: Crypto Exchange Cuts 30% Workforce After $582M Loss appeared first on Coinpedia Fintech News

The crypto shakeout is getting real, and the biggest AI giant, Gemini, is right in the middle of it. According to a Bloomberg report, the Winklevoss-led exchange has slashed nearly 30% of its workforce in 2026, as it leans heavily into AI while battling falling market share and deep losses. 

Streamlining Operations

This reduction comes as part of a broader effort to optimize efficiency and focus on core business areas. Software development and other production tasks have been restructured, allowing Gemini to operate with a leaner team while maintaining service quality.

The move aligns with similar steps across the sector. For instance, Singapore-based Crypto.com recently announced a 12% reduction in its workforce to improve operational efficiency, while other major firms have been revising their internal structures to remain competitive.

Market Slump Hits Hard

Behind this restructuring is a brutal market reality. Bitcoin, which was trading near $115,000 around Gemini’s IPO in September 2025, has since dropped to the $60,000 range, putting pressure on trading volumes and revenues.

As a result, Gemini posted a massive net loss of $582.81 million for 2025, highlighting how tough conditions have become even for major exchanges. To make things worse, Gemini’s market share remains under 1% compared to giants like Coinbase, putting it at a clear disadvantage in a highly competitive space.

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Focus on the US Market and Diversification

With market share still under 1% compared to major exchanges like Coinbase, Gemini has shifted its focus to the United States, exiting the UK, EU, and Australian markets. This allows the company to concentrate its resources on regions with stronger prospects.

In addition to its trading platform, Gemini is seeing growth in non-trading sectors. Its credit card service grew 15-fold year-over-year, with portfolio balances reaching $21.8 million by Q4 2025. Meanwhile, the forecast market platform launched in December has already attracted over 15,000 users, demonstrating promising uptake.

Learning from Challenges

Tyler Winklevoss revealed the lessons the company is taking from its current path. “We started as a bitcoin company and now operate across multiple market sectors,” he said in a recent shareholder letter. “We welcome feedback and use it to strengthen our approach, just like our journey to the Olympics taught us discipline and perseverance.”

Gemini’s strategy shows a clear focus on concentrating resources, improving efficiency, and diversifying services, all aimed at stabilizing operations during a challenging market phase.

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The post ETHFI Price Today: Upbit KRW Listing Causes 20% Spike as Arthur Hayes Accumulates appeared first on Coinpedia Fintech News

Ether.fi’s ETHFI token has been added to South Korea’s largest crypto exchange with a new ETHFI/KRW pair, giving it direct access to a massive retail market.

Trading started on March 19 at 12:30 PM KST. ETHFI was already available in BTC and USDT pairs on Upbit, but KRW pairs usually bring in much higher activity. That’s exactly what played out here.

Upbit also introduced its usual controls during the launch. Buy orders were restricted for the first five minutes, and certain low-priced sell orders were limited. Only limit orders were allowed for around two hours. Deposits also came with strict rules, including Travel Rule compliance and wallet verification.

Price Reaction: Sharp Spike, Then Cool-Off

Right after the listing news, ETHFI jumped more than 20%, reaching around $0.65, its highest level since mid-January. 

But the move didn’t hold. As more trades came in, the price pulled back and settled near the $0.57–$0.60 range. At the time of writing, it’s trading around $0.55, still up about 5% on the day.

This kind of move is common with exchange listings, a fast rise followed by a drop as early buyers take profits. 

What Ether.fi Actually Does

Ether.fi is part of Ethereum’s liquid restaking space. It lets users stake ETH while still using their funds through tokens like eETH and weETH in DeFi.

ETHFI is the main token behind the platform. It’s used for governance and plays a role in how the system runs and rewards users.

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Hayes’ Backing Adds Confidence

BitMEX co-founder Arthur Hayes also stepped in just before the listing. Lookonchain data shows he received 132,730 ETHFI worth about $72,800 only a few hours before the announcement. Earlier, he had sold around 2.15 million ETHFI near $0.47 and later bought back in around $0.55, showing a planned move.

He had also spoken about the project before, pointing out that it has real users and real income. Ether.fi’s revenue run rate had jumped from about $18 million to nearly $80 million, which is not very common in DeFi projects.

Overall, at present, the Upbit listing is the main driver behind this move. The price reacted fast and then slowed down, which is typical.

Now, ETHFI has more visibility, especially in the Korean market. What happens next will depend on how much activity continues after this initial listing phase.

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