Gemini Stock Slides 77% as Executive Shakeup and Losses Raise Growth Concerns

Gemini’s stock continued its downward slide following a sweeping executive shakeup and fresh financial disclosures, intensifying scrutiny around the crypto exchange’s long-term outlook. Since going public last September at $28 per share, GEMI has fallen 77%, reflecting investor concerns over slowing growth, mounting losses, and rising competition in the centralized exchange market.

In a recent blog post, founders Tyler and Cameron Winklevoss confirmed that Gemini parted ways with its Chief Financial Officer, Chief Legal Officer, and Chief Operating Officer. Interim leaders have been appointed for the CFO and CLO roles, while the COO position will remain vacant. The leadership overhaul is part of a broader transformation strategy dubbed “Gemini 2.0,” which the founders say is designed to adapt to rapid advancements in artificial intelligence and the emergence of prediction markets reshaping digital asset trading platforms.

The announcement follows a 25% reduction in Gemini’s global workforce and the company’s exit from key international markets, including the United Kingdom, European Union, and Australia. These cost-cutting measures come as Gemini disclosed an estimated net loss of approximately $595 million for 2025 in a recent SEC filing, adding further pressure to its valuation.

The steep decline in Gemini’s share price has reignited debate over whether the exchange was overvalued at its IPO. Initial pricing assumptions were based on sustained crypto trading volumes and revenue expansion during a period of elevated retail participation. However, as crypto markets cooled, earnings expectations were reassessed.

Competitive pressures have also intensified among centralized crypto exchanges. Binance currently dominates with 39.2% of total spot trading volume in 2025, processing $7.3 trillion, according to CoinGecko. Other major platforms such as Bybit, MEXC, and Coinbase maintain significant market share. Gemini, by contrast, ranks 24th on CoinMarketCap with a 24-hour trading volume of $54 million.

As market consolidation accelerates, Gemini’s restructuring efforts will be critical in determining whether the exchange can regain investor confidence and stabilize its position in the evolving cryptocurrency market.