Gemini Cuts More Staff as Many Crypto Prices Rise: Report
A source close to the crypto exchange reportedly said there were 68 fewer employees on the company's Slack channel on Monday, suggesting that Gemini had reduced about 7% of its staff.
New
Cameron and Tyler Winklevoss' Gemini is reportedly laying off additional staff more than a month after reports suggested the cryptocurrency exchange cut 10% of its employees.
In a report from TechCrunch on Monday, the outlet said a source close to Gemini reported 68 fewer employees on the company's Slack channel, suggesting the crypto exchange had cut around 7% of its more than 1,000 employees. The anonymous source claimed that Gemini continues to lay off employees as part of "extreme cost cutting".
Crypto exchange Gemini executes second round of layoffs less than two months after laying off 10% of its staff https://t. co/2ocARTxsnh by @jacqmelinek
— TechCrunch (@TechCrunch) July 18, 2022The Winklevoss brothers’ Gemini Trust reportedly laid off 10% of its employees amid the bear market in June, as the price of many major cryptocurrencies fell by double-digit percentages. However, at press time, the prices of Bitcoin (BTC) and Ether (ETH) have increased by more than 4% and 10% respectively in the past 24 hours.
Amid volatility in the crypto market and other major exchanges including Coinbase and Crypto.com
A source close to the crypto exchange reportedly said there were 68 fewer employees on the company's Slack channel on Monday, suggesting that Gemini had reduced about 7% of its staff.
New
Cameron and Tyler Winklevoss' Gemini is reportedly laying off additional staff more than a month after reports suggested the cryptocurrency exchange cut 10% of its employees.
In a report from TechCrunch on Monday, the outlet said a source close to Gemini reported 68 fewer employees on the company's Slack channel, suggesting the crypto exchange had cut around 7% of its more than 1,000 employees. The anonymous source claimed that Gemini continues to lay off employees as part of "extreme cost cutting".
Crypto exchange Gemini executes second round of layoffs less than two months after laying off 10% of its staff https://t. co/2ocARTxsnh by @jacqmelinek
— TechCrunch (@TechCrunch) July 18, 2022The Winklevoss brothers’ Gemini Trust reportedly laid off 10% of its employees amid the bear market in June, as the price of many major cryptocurrencies fell by double-digit percentages. However, at press time, the prices of Bitcoin (BTC) and Ether (ETH) have increased by more than 4% and 10% respectively in the past 24 hours.
Amid volatility in the crypto market and other major exchanges including Coinbase and Crypto.com
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