JULY 18, 2022 — SECOND ROUND OF LAYOFFS, THIRD POSSIBLE
With the cryptocurrency world in shambles, Gemini Trust Company has executed a second round of layoffs after seven weeks, estimated at 7% of the workforce or 68 employees.
On July 14, an unauthorized source shared a document that highlighted a plan that would take the company to about 800 employees, which was around 15% fewer than the 950 employees at the time.
JUNE 9, 2022 — Original post…
New York City, New York-based Gemini Trust Company, a cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets, has announced a cost-cutting initiative featuring a 10% reduction in its workforce.
Approximately 100 employees will be impacted by the layoffs.
According to Gemini co-founders, the Winklevi, twins Cameron and Tyler Winklevoss, "The 'crypto revolution' is entering its 'contraction phase' 'compounded by the current macroeconomic and geopolitical turmoil' and is characterized by 'turbulent market conditions that are likely to persist for some time.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?