The American Bitcoin exchange Gemini has cut staff further after the recent layoff of roughly 10% of staff, according to TechCrunch.
The company had not publicly announced further layoffs. However, according to a source for the publication, the figure amounts to 7% of the workforce, or 68 employees.
According to a TechCrunch source, Gemini cited ‘drastic cost-cutting’.
According to a July 14 post on the anonymous Blind forum, the company planned to reduce staff from 950 to 800.
‘I learned that at least one team member thought it would be a good idea to post a fragment of our technology-operations plan on an external site (Blind). Wow, that is really awful… if you leak information about the company, you demonstrate a low level of consciousness and respect for your colleagues, who stand to gain from the openness we are trying to create and develop here,’ commented then-Gemini co-founder Cameron Winklevoss.
In early June the exchange announced staff cuts amid the crypto winter, one of the first to take such action. Following this, several notable industry players announced layoffs, including Coinbase, Crypto.com, BlockFi, BitMEX, Bitpanda, the mining company Compass Mining and NFT marketplace OpenSea.
In contrast, Binance CEO Changpeng Zhao described the crypto winter as ‘a good time to hire’ for new staff. Plans to hire more than 300 specialists said KuCoin chief Johnny Li.
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