Gemini Is Reported To Have Made The Second Round Of Layoffs

As CoinCu reported, Gemini cut its staff last month to avoid the effects of the crypto winter. The company is said to have laid off more employees after more than a month of cutting 10% of its staff.

In a Monday report from TechCrunch, the news outlet said that a source close to Gemini reported that the crypto exchange had cut about 7% of its more than 1,000 employees, or 68 staffs.

The Winklevoss brothers’ Gemini cut 10% of its staff amid the bear market in June when the prices of many leading cryptocurrencies fell by double-digit percentages. However, at the time of writing, Bitcoin (BTC) and Ether (ETH) prices have increased by more than 4% and 10%, respectively, in the past 24 hours.

Amid crypto market volatility and other major exchanges, including Coinbase and Crypto.com, announcing similar staff cuts in June, the Winklevoss brothers are said to be on tour with their band, Mars Junction:

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Harold

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