Gemini to Lay Off 10% of Its Staff
Cryptocurrency exchange Genesis Global is preparing to lay off some of its staff after facing issues pertaining to FTX.
Winklevoss Twins’ cryptocurrency exchange is preparing to lay off some of its staff after facing issues pertaining to FTX and Genesis Global.
According to a Monday report, Gemini, the cryptocurrency exchange of the Winklevoss Twins, is cutting its workforce by 10%.
Genesis has been facing issues since the collapse of FTX.
Genesis’ Earn was shut down earlier in January after a public exchange with DCG’s Bary Silbert over Genesis’ debt to Gemini.
Genesis filed for bankruptcy late last week as a result of the spreading FTX contagion.
This is the latest in a series of crypto layoffs which also saw Genesis cut its workforce by 30% prior to the bankruptcy filing, and Coinbase fire around 900 of its employees.
This article originally appeared on The Tokenist
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