What Gemini is
Gemini is a cryptocurrency exchange and custodian founded in 2014 in New York by Cameron and Tyler Winklevoss. It has built an identity as a "regulation-first" platform: it is a trust company supervised by the New York State Department of Financial Services (NYDFS), with custody mainly in cold storage and dollar deposits at FDIC-insured banks. It offers spot trading, institutional custody, a credit card with crypto cashback and the GUSD stablecoin. On 12 September 2025 the parent company Gemini Space Station listed on Nasdaq under the ticker GEMI: the IPO was priced at 28 dollars a share, raising around 425 million, and debuted more than 30% higher. The filings also showed losses (282.5 million dollars in the first half of 2025), something to be aware of when assessing the company. (Verified: September 2026) In February 2026 the company announced cuts of around a quarter of its staff and its exit from the markets of the United Kingdom, the European Union and Australia, to focus on the United States and Singapore. (Verified: October 2026)
Regulation and licences
- MiCA: authorisation still on the register, but service closed in the EU — the subsidiary Gemini Intergalactic EU Ltd obtained CASP authorisation from the Malta Financial Services Authority (MFSA) on 21 August 2025 and still appears in the ESMA register (update of 22 October 2026). Gemini, however, has left the European market: from 5 March 2026 accounts were switched to "withdrawal only" mode, and on 6 April 2026 all customer accounts in the European Economic Area were closed. In the European Union Gemini is no longer an available service. (Verified: October 2026)
- MiFID II: in May 2025 Gemini had obtained authorisation in Malta to offer derivatives, including perpetuals, in the European market. With the exit from the EU this offering has also ceased: perpetual positions had to be closed before 5 March 2026. (Verified: October 2026)
- USA: NYDFS-regulated trust company (New York) since 2015. (Verified: September 2026)
- Listed company: Nasdaq Global Select Market, ticker GEMI, since 12/09/2025 — with the disclosure obligations that entails. (Verified: September 2026)
Security
The exchange has suffered no direct breach of client funds. The critical chapter of its history is Gemini Earn: the lending programme run through Genesis, frozen in November 2022 when the lender failed, left around 900 million dollars belonging to more than 230,000 users locked up. The outcome, however, is among the best of the crypto crises: with a settlement worth roughly 2.2 billion dollars closed in 2024, Earn users recovered 100% of their assets in kind (in the same cryptocurrency deposited), with distributions between May and June 2024. Custody is mainly in proprietary cold storage; fiat funds sit at FDIC banks. (Verified: September 2026)
Alternatives
For anyone looking for a similar service that is operating and authorised in the EU:
- Kraken — global exchange with MiCA authorisation via Ireland
- Bitstamp — long-established European exchange
- Crypto.com — platform with a broad consumer offering in Europe
FAQ
Can I use Gemini from the EU? No. On 6 April 2026 Gemini closed all customer accounts in the European Economic Area, the United Kingdom and Australia. The MiCA authorisation of its Maltese subsidiary is still listed in the ESMA register, but the service is no longer offered. (Verified: October 2026)
Did Gemini Earn users get their money back? Yes: after the Genesis bankruptcy, a settlement worth around 2.2 billion dollars returned 100% of the assets in kind to more than 225,000 Earn users, with distributions completed in mid-2024. (Verified: September 2026)
Is Gemini publicly listed? Yes, since 12 September 2025 on Nasdaq under the ticker GEMI; the IPO raised around 425 million dollars. (Verified: September 2026)
Verified sources
- https://support.gemini.com/hc/en-us/articles/46255474469275-Gemini-closing-accounts-in-the
- https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv
- https://www.coindesk.com/markets/2026/02/05/gemini-to-exit-u-k-eu-and-australia-reduce-sta
- https://www.coindesk.com/policy/2025/08/21/crypto-exchange-gemini-secures-mica-license-in-
- https://cointelegraph.com/news/gemini-exchange-mica-license-malta-mfsa
- https://www.cnbc.com/2025/09/12/gemini-the-winklevoss-crypto-exchange-pops-in-nasdaq-debut
- https://www.gemini.com/blog/announcing-the-successful-resolution-of-earn
