Saudi Press

Saudi Arabia and the world
Wednesday, Jul 09, 2025

0:00
0:00

Crypto winter continues at Gemini as another round of layoffs hits Winklevoss crypto exchange

The company has reportedly laid off as much as another 7% of its workforce, roughly 68 people. That comes on the heels of a 10% staff reduction in early June.
Gemini, the cryptocurrency firm started by Cameron and Tyler Winklevoss, has slashed its workforce for the second time in two months.

TechCrunch reports the company has laid off as much as another 7% of its workforce, roughly 68 people. That comes on the heels of a 10% staff reduction in early June.

Gemini has not publicly commented on the most recent layoffs, but in announcing last month’s cuts, the company blamed “turbulent market conditions that are likely to persist for some time.”

In early June, the Commodity Futures Trading Commission (CFTC) sued Gemini on allegations the crypto exchange’s staff misled the federal regulator during Gemini’s 2017 effort to launch trading of what would have been a landmark Bitcoin (BTC) futures contract.

Both Winklevoss twins are still associated with Gemini, but both have dropped any mention of the company from their Twitter biographies, instead choosing to highlight their recently formed cover band.

That, along with the decision to go on tour as the crypto markets imploded, has led to some employee disgruntlement. That could be how an internal document ended up being shared last week on the anonymous professional network Blind. That document discussed a plan to lower the company headcount to 800 people—150 fewer than were on staff at the time.

TechCrunch reports that that reengaged the cofounders, who took to the company Slack to chastise the leaker.

“Wow, super lame,” wrote Cameron Winklevoss. “Karma is the blockchain of the universe—an immutable ledger that keeps track of positive and negative behavior…We are going to the moon. We are going to need cosmic consciousness to get there. Earthly consciousness will not be enough. If you are exhibiting the behavior of a first-time human, time to level up or respectively bow out, if for no other reason but to avoid an expensive bill in the future.”

Mars Junction, the Winklevosses’ band, wrapped up its tour on July 3.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
×