Gemini to cut 10% of its staff; cites ‘turbulent’ crypto market

Gemini will lay off 10% of its employees, citing “turbulent market conditions”. Billionaire twins Cameron and Tyler Winklevoss informed investors via a blog post on Wednesday. According to their comments, the crypto industry is in a “contraction phase that is settling into stasis”. “Macroeconomic and geopolitical turmoil has exacerbated this,” the twins added. They further said that they are not alone in this situation as the entire market faces a downturn.