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Gemini crypto exchange cuts 10% of staff due to crypto winter

Gemini crypto exchange cuts 10% of staff due to crypto winter

The Winklevoss brothers, founders of the platform, said that the crypto-industry stagnation is the reason for downsizing the team.

As reported in an email sent on behalf of the founders, the crypto industry is entering the crypto winter period, so the company will only focus on mission-crucial products.

One-on-one remote meetings will be held with laid-off employees to discuss the layoff situation.

"And as painful as this moment is, we ultimately see it as an opportunity to double-down on our strongest ideas and customer-centric products so that we may be the catalyst of innovation coming out of these leaner times that will help fuel the next cycle of crypto growth and adoption. We have never had more conviction in our people, our products, and our mission - to unlock the next era of financial, creative, and personal freedom for our customers”, the Winklevoss brothers summed up.

Gemini exchange was founded in 2014 by Cameron and Tyler Winklevoss. Today, 95 currencies are traded on the exchange, with a daily trading volume of $123 million.

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