Tag: Bitcoin Crash
Gemini's Brutal Retreat: 200 Jobs Cut, Three Markets Abandoned as the Winklevoss Twins Fight for Survival
On February 5, 2026, Gemini Space Station Inc. — the crypto exchange founded by billionaires Cameron and Tyler Winklevoss — announced it would slash up to 200 jobs (roughly 25% of its remaining global headcount), exit the United Kingdom, the European Union and Australia entirely, and concentrate its dwindling resources on the United States and Singapore. The restructuring, carrying an estimated $11 million in pre‑tax charges, comes as Gemini's stock has cratered 85% from its September 2025 IPO highs, its global spot market share has shrunk to just 0.1%, and Bitcoin has fallen roughly 40% from its October 2025 peak — a confluence of pressures that has turned one of crypto's most recognizable brands into a cautionary tale of overexpansion.
War Comes to the Charts: US and Israel Strike Iran, $128 Billion Is Erased From Crypto in One Hour, and Bitcoin's Week-Long Recovery Collapses Below $64,000
The US and Israel launched coordinated military strikes on Iran on February 28, 2026 — triggering the sharpest single-event crypto selloff in months: Bitcoin plunged to $63,038, Ethereum to $1,835, $128 billion in total crypto market capitalization was erased within one hour, and $445 million in leveraged futures positions were forcibly closed across 135,000 trading accounts. The entire recovery from Wednesday's carefully constructed 9% bounce was erased in minutes. The demand floor that had held three times this month is now under its most serious test yet.