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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.

The Winklevoss brothers, Tyler Winklevoss & Cameron Winklevoss

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

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.