The Winklevoss brothers’ exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. announced layoffs citing “crypto winter.” The cutback measure affects about 100 people.
- The 10% reduction in staff translates into about 100 jobs.
- Gemini is the latest exchange to announce layoffs amid falling prices.
- Despite the current bearish outlook, Gemini is optimistic for the future.
Gemini , el intercambio de criptomonedas liderado por los gemelos multimillonarios Cameron y Tyler Winklevoss, está haciendo un recorte de personal en respuesta a las condiciones adversas en el mercado.
In a communiqué the brothers announced that they had taken the “ difficult but necessary”. decision to let go 10% of the company’s workforce. The notice, published on June 2 on the firm’s official blog, argues about the need to cut costs amid the “economic downturn”. turbulent market an area or arena, online or offline, in which commercial dealings are conducted. conditions that are likely to persist for some time to come. “.
The move comes during a significant correction a correction is a pullback of an asset’s price of at least 10% to adjust for over-valuation. in the digital currency currency is a medium of exchange that defines value. market. Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. has struggled for much of 2022 to stay above $30,000, a level well below its all-time price high of $68,000 in November. The rest of the market has also fallen more than 50% in the midst of the bearish season, popularly called the “ cryptowinter “.
The crypto-industry is currently at a ” phase of contraction that is settling into a period of stagnation. “also known as ” cryptowinter “said Tylor and Cameron, CEO and chairman of Gemini respectively. “ All this has been compounded by the current macroeconomic and geopolitical turmoil. We are not alone “they added.
Gemini despide a 100 empleados
Gemini no dio detalles sobre la cantidad de empleados que serán despedidos; sin embargo, según los informes el anunciado 10% podría traducirse en unos 100 puestos de trabajo. De acuerdo con datos proporcionados por la firma Craft who were quoted by CoinDesk The exchange has about 1,000 workers. The page of LinkedIn of the company seems to be in line with this figure.
As reported by Bloomberg this is the first time that Gemini announced measures to cut its staff since its inception in 2014. But the exchange is not alone, as other competitors in the industry have also announced a readjustment in their payroll plans in the face of the broader fall in prices in the market and the consequent decrease in trading volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. on the platforms.
Last month, Coinbase is an American company that operates a cryptocurrency exchange platform. dijo that it would slow down recruitment and reassess staffing needs, citing the same reasons. Meanwhile, others exchanges including Robinhood , Bitso y BitMEX have announced layoff measures . A form of Layoffs.fyi as reported by The Block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. suggests that nearly 15,000 people worldwide in emerging companies lost their jobs during May.
But not everyone perceives the correction as an adverse reality. A few days ago,Fidelity Digital digital technologies are these electronic tools that have the ability to generate, store or even process data. Assets reveló that it planned to double its staff with the intention of meeting the growing demand for cryptocurrencies among institutional investors. The company also advanced that it is looking to expand its offering, with custody custody is a financial institution's legal capacity to keep and preserve financial assets for its clients to avoid asset theft or loss. and trading services of Ethereum a decentralized open-source blockchain with smart contracts functionality. .
Optimistic for the future
In its statement on Thursday, Gemini added that it now wants to focus only on those products that are critical to its mission. The Winklevoss brothers were also optimistic about the future of cryptocurrency, stating that they expect the market to eventually stabilize in “ a new balance that is higher than before “.
The advisory concludes by saying that Gemini sees the current contractionary phase as “ an opportunity to double Your strengths so that you can become a “good” and a “good” person. innovation catalyst ” in the next cryptomarket growth cycle.
As you rememberThe Block, the advertisements of Gemini come seven months after the company will raise 400 million USD, reaching a valuation of USD $7.1 billion in its first round of funding.
- Argentine exchange Buenbit lays off half of its staff
- Mexican crypto exchange Bitso lays off 80 employees
- Gemini, exchange de los hermanos Winklevoss, lanza tarjeta de crédito cripto en EE UU
Article by Hannah Estefania Perez / DiarioBitcoin
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