Gemini’s restructuring comes amid shrinking market presence and broader crypto market pessimism.

According to a report by Bloomberg, Gemini’s global spot trading market share fell to around 0.1% in January, down from 0.6% in June 2025. Its valuation has reportedly dropped from nearly $4 billion following its public listing to under $700 million.

The company is now pivoting toward a new platform regulated by the Commodity Futures Trading Commission, focusing on prediction markets, along with expanding custody and credit card services.

The reset comes during one of crypto’s gloomiest sentiment cycles. Bitcoin miners like Bitdeer have liquidated BTC reserves, US spot Bitcoin ETFs have seen five consecutive weeks of outflows, and fear gauges have dropped to extreme levels.

Still, some prominent investors remain long. Japan’s Metaplanet continues accumulating BTC, while Strategy — the largest publicly listed Bitcoin holder with over 717,000 BTC — has hinted at further purchases. Arthur Hayes also remains heavily allocated to Bitcoin, alongside gold and oil.

For now, Gemini is betting that a leaner structure and strategic pivot can position it for recovery — even if market sentiment remains stuck in fear.