[Gemini Plans to Lay Off Up to 25% of Employees, Affecting Approximately 200 Positions] According to Bloomberg, cryptocurrency exchange Gemini announced plans to lay off up to 25% of its workforce after previously revealing its decision to gradually cease operations in the UK, EU, and Australia. The move is aimed at reducing costs and improving profitability. The layoffs will impact up to 200 positions globally, including employees in the United States and Singapore. Gemini co-founders Tyler and Cameron Winklevoss stated: 'For various reasons, these overseas markets have proven difficult to win, and we find ourselves struggling with the complexity of organizational and operational challenges, which has increased our cost structure and slowed us down.'