Gemini co-founder Tyler Winklevoss says crypto sentiment is so bad he\u2019s \u201coptimistic,\u201d even though the exchange he runs with his brother Cameron is forced into a sharp reset, and Winklevoss Capital appears to have been steadily selling Bitcoin for the last 12 months.<\/p>\n
Despite his public<\/a> bullish sentiment, onchain trackers such as Arkham reveal<\/a> that the Winklevoss Capital wallet has been reducing its Bitcoin (BTC<\/a>) exposure over the past year, from around 23,000 BTC in February 2025 to under 11,000 BTC in February 2026.<\/p>\n Gemini\u2019s latest filing<\/a> with the US Securities and Exchange Commission (SEC) on Tuesday showed that it expected net revenue of between $165 million and $175 million for 2025, up from $141 million in 2024, with around 600,000 monthly transacting users, a 17% year\u2011on\u2011year increase.<\/p>\n At the same time, projected operating expenses have soared to between $520 million and $530 million, versus $308 million a year earlier.<\/p>\n Related: <\/strong><\/em>Crypto investors\u2019 interest moves \u2018pretty wide\u2019 beyond majors as dip drags: Exec<\/strong><\/em><\/a><\/p>\n On Feb. 5, Gemini announced that it would cut up to a quarter of its staff, exiting the United Kingdom, European Union and Australia<\/a> to concentrate on the US and Singapore markets.<\/p>\n Less than two weeks later, the company parted ways with<\/a> its chief operating officer, chief financial officer and chief legal officer, saying that Cameron Winkelvoss would be taking on more responsibilities.<\/p>\n According to a Sunday report<\/a> by Bloomberg, Gemini\u2019s spot market share shrank to around 0.1% of global spot crypto trading in January, down from 0.6% in June 2025, and its market value has fallen from almost $4 billion to under $700 million since last year\u2019s public listing.<\/p>\n Citing people familiar with the matter, Bloomberg reported that Gemini had let go of additional US staff and was now focused on a pivot toward a new Commodity Futures Trading Commission (CFTC) regulated prediction markets platform, and custody and credit card services.<\/p>\n The company\u2019s own 8\u2011K filing confirmed the senior leadership shakeup and noted that Cameron Winklevoss would absorb many of the outgoing chief operating officer\u2019s duties, while interim executives step into the chief financial officer and general counsel roles.<\/p>\n Cointelegraph reached out to Gemini to confirm the reported additional layoffs, strategic pivot and BTC sales, but had not received a response by publication.<\/p>\n Gemini\u2019s restructuring comes against a backdrop of unusually bleak sentiment across the crypto market.\u00a0<\/p>\n Miners such as Bitdeer have liquidated their BTC treasuries<\/a>, US-based spot Bitcoin ETFs have bled<\/a> for the past five weeks, and popular sentiment gauges like the Crypto Fear & Greed Index have sunk<\/a> to extreme fear levels, coinciding with Google searches for \u201cBitcoin going to zero\u201d<\/a> at their highest since 2022.<\/p>\n Related: <\/strong><\/em>Gemini exit a \u2018blow for policymakers\u2019 with UK crypto hub ambitions<\/strong><\/em><\/a><\/p>\n A handful of high\u2011profile investors remain long Bitcoin, however, including Japan\u2019s Metaplanet, which has repeatedly doubled down on its BTC accumulation strategy<\/a> despite market conditions, and US Bitcoin treasury pioneer Strategy, the largest publicly-listed owner of BTC, at 717,131 BTC, which hinted at its 100th Bitcoin buy<\/a> on Sunday.\u00a0<\/p>\n High-frequency trader and BitMEX co-founder Arthur Hayes also posted<\/a> his portfolio today. He remains heavily weighted toward BTC alongside gold, oil, and other assets, while macro analysts such as Lyn Alden remain long but expect a grinding market<\/a> rather than a sharp rally in the near term.<\/p>\n Magazine: <\/strong><\/em>Bitcoin\u2019s \u2018biggest bull catalyst\u2019 would be Saylor\u2019s liquidation \u2014 Santiment founder<\/strong><\/em><\/a> <\/p>\n <\/div>\n Gemini co-founder Tyler Winklevoss says crypto sentiment is so bad he\u2019s \u201coptimistic,\u201d even though the exchange he runs with his brother Cameron is forced into a sharp reset, and Winklevoss Capital appears to have been steadily selling Bitcoin for the last 12 months. Despite his public bullish sentiment, onchain trackers such as Arkham reveal that […]<\/p>\n","protected":false},"author":2,"featured_media":420451,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-420450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420450","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=420450"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420450\/revisions"}],"predecessor-version":[{"id":420452,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/420450\/revisions\/420452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/420451"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=420450"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=420450"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=420450"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Shrinking market share and strategic pivot<\/h2>\n
![\"Bitcoin](\"https:\/\/s3.cointelegraph.com\/uploads\/2026-02\/019c89b9-270a-7a53-9faa-95e438a2ba94.png\" "\\"\\"\/")
Bleak market sentiment piles on pressure<\/h2>\n