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🇬🇧 Gemini Gives Up on the UK

🇬🇧 Gemini Gives Up on the UK

ALSO: The Long Road to the LSE; When Everyone Gives Up; Seven Figures, Settled in Seconds; Jack Mallers will not let Jeffrey Epstein rumours, “rob us of Bitcoin”; Grant Cardone is selling his $78 million dollar jet to buy Bitcoin.

February 06, 2026

Happy Friday, In A Nutshell this week:

🇬🇧 Gemini Gives Up on the UK
🛤️ The Long Road to the LSE
😱 When Everyone Gives Up
⚡ Seven Figures, Settled in Seconds
📉 Strategy Shrugs Off $12.6B Loss
…and much more

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🚀⏰ Today’s news should be a ~4.48-minute read (730 words).

🧠 Quote Of The Week

"People go where they are invited, but stay where they are appreciated"

— John Maxwell

🇬🇧 Gemini Gives Up on the UK

Crypto exchange Gemini will leave the UK, EU and Australia and cut around 25% of its staff, shifting focus to the U.S. and building out prediction markets.

Accounts in the affected regions will move to withdrawal-only from 5 March 2026, with the wind-down completing in the following months.

This retreat highlights the hostile, high-friction rules imposed by regulators such as the FCA in markets like the UK.

It is a disappointing day for UK users who now have fewer options, and a clear signal that the cost, delay and uncertainty of compliance can drive firms and innovation offshore.

🛤️ The Long Road to the LSE

The Smarter Web Company has begun trading on the London Stock Exchange Main Market, marking a major milestone for the UK’s largest publicly listed holder of Bitcoin.

The uplisting follows the company’s IPO on Aquis less than a year ago, when it became the first publicly traded UK company to hold Bitcoin on its balance sheet.

To mark the occasion, the company invited shareholders to the uplisting event at the London Stock Exchange. This landmark move widens access for everyday investors by bringing a Bitcoin-native treasury company onto the more broadly accessible Main Market.

😱 When Everyone Gives Up

Bitcoin has slipped into the high £60,000s, but classic bottom signs are flashing as some investors appear to be giving up.

Sentiment is at extreme fear, short-term holders are selling at a loss, and the RSI is oversold. These are typical late-stage washout markers.

It’s not a guarantee, but this setup often precedes strong rebounds as weaker hands exit and liquidity resets.

⚡ Seven Figures, Settled in Seconds

Institutional broker Secure Digital Markets sent $1 million to Kraken over the Lightning Network, proving a seven-figure transfer can settle in seconds with tiny fees.

It’s the largest publicly reported Lightning Network payment between regulated counterparties, showing Bitcoin can move serious money without traditional banking rails.

If more exchanges and brokers tap into the Lightning Network, treasury transfers and settlements could get faster and cheaper, running 24/7.

Lightning Network payments are shifting from small retail use to institutional-grade rails.

📉 Strategy Shrugs Off $12.6B Loss

Strategy reported about $12.6B in Q4 losses from fair-value markdowns as Bitcoin fell. Even so, it increased holdings to 713,502 BTC, bought 41,002 BTC in January, and set aside roughly $2.25B in cash to cover more than two years of dividends and interest.

On the earnings call, CEO Phong Le said Bitcoin would need to drop to around $8,000 and stay there for five to six years before its ability to repay convertible debt would be at risk.

Management plans to keep executing the Bitcoin treasury playbook and dismissed ‘quantum’ fears as FUD (fear, uncertainty and doubt).

💥 BBN Goes Off with a Bang

Last week we kicked off the Bitcoin Business Network at McCann Bespoke with a packed room, great food and drink, and a sit-down with former Chancellor of the Exchequer Kwasi Kwarteng.

This was the first of many BBN events, with the next members’ meetup to be announced soon.

If you want to connect with businesses shaping how Bitcoin is used in the UK and grow alongside them over time, you’re in the right place.

Click here to learn more.