U.S. crypto exchange Gemini to lay off 10% of employees to survive crypto winter

Gemini, a major US cryptocurrency exchange founded by brothers Cameron and Tyler Winklevoss, is cutting staff again. Marketplace plans to fire another 10% of employees. “We had hoped to avoid further layoffs after the summer, however, continued negative macroeconomic conditions and unprecedented fraud perpetrated by bad actors in the industry have left us with no choice but to revise our forecast and further reduce headcount,” Cameron Winklevoss commented on the situation. In November 2022, the Gemini staff consisted of 1,000 people, which means that approximately 100 people will lose their jobs. In July 2022, 7% of employees were laid off,