The crypto exchange Gemini reportedly lays-off 7% of its workforce citing ‘extreme cost cutting’, per sources. Reports reveal that Gemini removed 68 members from its company-wide internal Slack channel.
A leaked ‘internal operating plan’ document also suggests intentions of taking Gemini to a staff strength of 800, from the current 950, a drastic 15% drop.
Gemini co-founder, Cameron Winklevoss’ Slack message says, “It’s come to my attention that at least one team member thinks it’s a good idea to post a snippet of our technology operating plan on a third party website (Blind)”.
Winklevoss reportedly elaborates the earlier message with a “friendly reminder that Karma is the blockchain of the universe — an immutable ledger that keeps track of positive and negative behavior.”
In a slew of Cryptoverse companies’ layoffs lately, OpenSea’s recent 20% layoff is strikingly noteworthy amid the ongoing crypto winter.
Gemini cited the reason for its earlier 10% layoff in June as the start of ‘the contraction phase’, in the ‘crypto winter’.
