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

Tyler Winklevoss said crypto sentiment is so bad he feels "optimistic," even as Gemini moves into a sharp reset and Winklevoss Capital has been trimming its Bitcoin holdings. Onchain data from Arkham shows the firm’s wallet fell from about 23,000 BTC in February 2025 to fewer than 11,000 BTC in February 2026.

In a filing with the US Securities and Exchange Commission, Gemini forecasted net revenue of $165–$175 million for 2025, up from $141 million in 2024, and reported roughly 600,000 monthly transacting users, a 17% year‑on‑year rise. Projected operating expenses, however, jumped to $520–$530 million versus $308 million the prior year.

Gemini announced on Feb. 5 that it would cut up to a quarter of its staff and exit the UK, EU and Australia to focus on the US and Singapore. Less than two weeks later the exchange parted ways with its chief operating officer, chief financial officer and chief legal officer, with Cameron Winklevoss taking on more responsibilities, and interim executives stepping into CFO and general counsel roles.

United States, Singapore

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