Cryptoexchange Gemini cuts 7% of its staff in second wave of layoffs.
- Gemini lays off 7% of staff
- This comes just weeks after laying off 10% of employees.
- At the same time announces its registration as a VASP in Ireland.
Gemini, the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. owned by the Winklevoss twins, is laying off more employees in a second round of downsizing. According to reports, the company is cutting 7% of its current workforce, as it engages in significant cost reduction policies.
This is the second wave of layoffs at Gemini, after the company laid off 10% of its staff less than two months ago, specifically on June 2.
This news comes just as the exchange announces news of its foray into Europe. This is what co-founder Cameron Winklevoss writes on Twitter:
“Delighted to announce that Gemini is the world’s first company to be registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland!”.
1/ Thrilled to announce that @Gemini is the first company in the world to be registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland @centralbank_ie !https://t.co/FvNPxqv9XJ
— Cameron Winklevoss (@cameron) July 19, 2022
Gemini lays off more staff
Gemini did not make an internal announcement for this round of layoffs, this one came to light through a leak on the Slack of the company. But it is estimated that it laid off 7% of its current workforce, with 68 employees having to leave the company.
However, the scope of the redundancy plan could be even greater, with leaked documents indicating the company could lay off more staff to reach a workforce of 800 employees The company had 950 employees, which means that 150 more employees could be laid off to achieve this goal. The company had 950 employees. A source told Techcrunch that this set of measures would be the result of the policies of “extreme cost reduction” applied by the company.
It is worth noting that virtually all exchanges have reduced staff, starting with the largest and best known as Coinbase is an American company that operates a cryptocurrency exchange platform. , following with others such as Crypto.com, Blockfi, Bitpanda, Banxa among others; as well as several in Latin America such as Buenbit y Bitso among others. Also, last week, the market an area or arena, online or offline, in which commercial dealings are conducted. for NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. OpenSea reduced its staff by 20%.
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